Iovance Biotherapeutics (IOVA) Sees Unusually-High Trading Volume

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Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares saw strong trading volume on Friday . 4,297,300 shares changed hands during mid-day trading, an increase of 306% from the previous session’s volume of 1,057,736 shares.The stock last traded at $13.60 and had previously closed at $13.15.

A number of equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, May 11th. B. Riley boosted their price objective on Iovance Biotherapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 11th. BidaskClub lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Finally, ValuEngine raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $20.81.

The company has a market cap of $1.22 billion, a PE ratio of -9.65 and a beta of 5.43.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). analysts expect that Iovance Biotherapeutics Inc will post -1.27 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of IOVA. venBio Select Advisor LLC lifted its stake in shares of Iovance Biotherapeutics by 53.8% during the first quarter. venBio Select Advisor LLC now owns 8,078,505 shares of the biotechnology company’s stock valued at $136,527,000 after acquiring an additional 2,825,055 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Iovance Biotherapeutics by 122.3% during the first quarter. Farallon Capital Management LLC now owns 4,150,000 shares of the biotechnology company’s stock valued at $70,135,000 after acquiring an additional 2,283,100 shares during the period. BlackRock Inc. lifted its stake in shares of Iovance Biotherapeutics by 18.9% during the first quarter. BlackRock Inc. now owns 5,783,847 shares of the biotechnology company’s stock valued at $97,747,000 after acquiring an additional 919,006 shares during the period. Prosight Management LP acquired a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at $4,055,000. Finally, QVT Financial LP lifted its stake in shares of Iovance Biotherapeutics by 70.1% during the fourth quarter. QVT Financial LP now owns 1,124,295 shares of the biotechnology company’s stock valued at $8,615,000 after acquiring an additional 463,486 shares during the period. 86.63% of the stock is currently owned by institutional investors and hedge funds.

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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