Iovance Biotherapeutics Inc (NASDAQ:IOVA) Director Wayne P. Rothbaum acquired 1,221,053 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were bought at an average cost of $10.20 per share, for a total transaction of $12,454,740.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NASDAQ IOVA traded down $0.98 during trading hours on Friday, hitting $8.97. The company’s stock had a trading volume of 720,562 shares, compared to its average volume of 1,186,543. Iovance Biotherapeutics Inc has a 52 week low of $7.85 and a 52 week high of $19.90. The stock has a market cap of $1.23 billion, a price-to-earnings 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 for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.03). As a group, equities analysts predict that Iovance Biotherapeutics Inc will post -1.29 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on IOVA shares. HC Wainwright set a $22.00 price objective on shares of Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Thursday, September 6th. BidaskClub cut shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Citigroup raised their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, October 17th. Finally, Cowen reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a research report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Iovance Biotherapeutics presently has a consensus rating of “Buy” and an average target price of $23.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Perceptive Advisors LLC lifted its position in Iovance Biotherapeutics by 24.6% in the 3rd quarter. Perceptive Advisors LLC now owns 7,290,199 shares of the biotechnology company’s stock valued at $82,014,000 after acquiring an additional 1,437,997 shares in the last quarter. FIL Ltd purchased a new stake in Iovance Biotherapeutics in the 3rd quarter valued at about $15,032,000. Nantahala Capital Management LLC purchased a new stake in Iovance Biotherapeutics in the 2nd quarter valued at about $10,560,000. Credit Suisse AG increased its stake in Iovance Biotherapeutics by 51.3% in the 3rd quarter. Credit Suisse AG now owns 1,560,825 shares of the biotechnology company’s stock valued at $17,559,000 after buying an additional 529,511 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Iovance Biotherapeutics by 8.9% in the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock valued at $80,598,000 after buying an additional 512,844 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.
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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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