Iovance Biotherapeutics Inc (NASDAQ:IOVA) Director Wayne P. Rothbaum acquired 921,053 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were bought at an average price of $10.31 per share, with a total value of $9,496,056.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
IOVA stock traded down $0.98 during trading on Friday, reaching $8.97. 720,562 shares of the company’s stock were exchanged, compared to its average volume of 1,186,543. Iovance Biotherapeutics Inc has a 1-year low of $7.85 and a 1-year high of $19.90. The firm has a market capitalization of $1.23 billion, a PE ratio of -6.36 and a beta of 2.74.
Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03). As a group, analysts predict that Iovance Biotherapeutics Inc will post -1.29 EPS for the current year.
Hedge funds have recently made changes to their positions in the business. RA Capital Management LLC boosted its position in Iovance Biotherapeutics by 70.1% during the 2nd quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock worth $14,351,000 after acquiring an additional 462,094 shares during the period. TD Asset Management Inc. boosted its position in Iovance Biotherapeutics by 29.3% during the 2nd quarter. TD Asset Management Inc. now owns 98,800 shares of the biotechnology company’s stock worth $1,265,000 after acquiring an additional 22,400 shares during the period. BlackRock Inc. boosted its position in Iovance Biotherapeutics by 8.9% during the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock worth $80,598,000 after acquiring an additional 512,844 shares during the period. Rhumbline Advisers boosted its position in Iovance Biotherapeutics by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 76,424 shares of the biotechnology company’s stock worth $978,000 after acquiring an additional 5,465 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in Iovance Biotherapeutics during the 2nd quarter worth $398,000. Institutional investors own 73.46% of the company’s stock.
A number of research analysts recently commented on IOVA shares. HC Wainwright set a $22.00 price objective on Iovance Biotherapeutics and gave the stock a “buy” rating in a research note on Thursday, September 6th. BidaskClub downgraded Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Citigroup upped their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, October 12th. Zacks Investment Research upgraded Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, October 17th. Finally, Cowen restated a “buy” rating on shares of Iovance Biotherapeutics in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.75.
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Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient’s immune system to eradicate cancer cells. The company’s lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients’ tumors for the treatment of metastatic melanoma.
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