Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) fell 5.3% during trading on Tuesday . The company traded as low as $12.30 and last traded at $12.45. 1,813,800 shares traded hands during trading, an increase of 69% from the average session volume of 1,074,201 shares. The stock had previously closed at $13.15.
A number of research firms recently commented on IOVA. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday. Zacks Investment Research cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BidaskClub cut Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, June 12th. Finally, Chardan Capital reiterated a “buy” rating and set a $30.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, July 6th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.69.
The firm has a market cap of $1.19 billion, a P/E ratio of -8.26 and a beta of 2.70.
A number of institutional investors and hedge funds have recently bought and sold shares of IOVA. Wells Fargo & Company MN grew its holdings in Iovance Biotherapeutics by 9.9% in the 1st quarter. Wells Fargo & Company MN now owns 54,832 shares of the biotechnology company’s stock valued at $926,000 after buying an additional 4,957 shares during the period. Rhumbline Advisers grew its holdings in Iovance Biotherapeutics by 27.4% in the 1st quarter. Rhumbline Advisers now owns 70,959 shares of the biotechnology company’s stock valued at $1,199,000 after buying an additional 15,241 shares during the period. SG Americas Securities LLC purchased a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $216,000. State Board of Administration of Florida Retirement System purchased a new stake in Iovance Biotherapeutics in the 1st quarter valued at about $247,000. Finally, Swiss National Bank grew its holdings in Iovance Biotherapeutics by 18.2% in the 1st quarter. Swiss National Bank now owns 123,600 shares of the biotechnology company’s stock valued at $2,089,000 after buying an additional 19,000 shares during the period. Institutional investors own 87.03% of the company’s stock.
About Iovance Biotherapeutics (NASDAQ:IOVA)
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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