Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 1-Year High at $40.00

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Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) hit a new 52-week high during trading on Friday . The company traded as high as $40.00 and last traded at $39.77, with a volume of 543009 shares trading hands. The stock had previously closed at $38.15.

IOVA has been the subject of several recent research reports. Zacks Investment Research raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, May 11th. Cowen restated a “buy” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, February 26th. Piper Sandler raised their price target on shares of Iovance Biotherapeutics to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Chardan Capital reissued a “buy” rating and issued a $44.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, May 14th. Finally, ValuEngine raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $40.53.

The firm has a 50 day moving average of $33.96 and a 200 day moving average of $27.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.48 and a current ratio of 6.48.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). Analysts forecast that Iovance Biotherapeutics Inc will post -2.08 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Pacitti Group Inc. bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at $28,000. Marshall Wace LLP bought a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $54,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at about $56,000. US Bancorp DE increased its position in Iovance Biotherapeutics by 72.3% in the 4th quarter. US Bancorp DE now owns 2,111 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 886 shares in the last quarter. Finally, Red Door Wealth Management LLC acquired a new position in Iovance Biotherapeutics during the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 97.78% 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 lifileucel, 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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