Cowen lifts Iovance Biotherapeutics Inc. [IOVA] price estimate. Who else is bullish?


Iovance Biotherapeutics Inc. [NASDAQ: IOVA] jumped around 0.4 points on Wednesday, while shares priced at $14.95 at the close of the session, up 2.75%. The company report on January 10, 2022 that Iovance Biotherapeutics Announces Raj K. Puri, M.D., Ph.D. to Join Leadership Team.

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced that Raj K. Puri, M.D., Ph.D., will join the Company as Executive Vice President, Regulatory Strategy and Translational Medicine. Dr. Puri will begin his employment with the Company toward the end of the first quarter of 2022.

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For more than 19 years, Dr. Puri has served as the director of the Division of Cellular and Gene Therapies (DCGT) in the Office of Tissues and Advanced Therapies at the United States Food and Drug Administration (FDA) in its Center for Biologics Evaluation and Research. He is also a Chief of Tumor Vaccines and Biotechnology Branch within DCGT. During his more than 33 years working at the FDA, Dr. Puri held various positions as a reviewer and laboratory chief prior to his service as a division director. Dr. Puri has experience with the evaluation and regulation of advanced therapies including cell and gene therapy, cancer vaccines, and cellular immunotherapy. As a principal investigator and throughout his career, Dr. Puri has led research in the field of cancer therapies, including agents such as immunotoxins, cancer vaccines, and T cells including chimeric antigen receptor-modified T cells and tumor infiltrating lymphocytes.

Iovance Biotherapeutics Inc. stock is now -21.69% down from its year-to-date (YTD) trading value. IOVA Stock saw the intraday high of $15.22 and lowest of $14.175 per share. The company’s 52-week high price is 54.21, which means current price is +6.94% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 1.89M shares, IOVA reached a trading volume of 3610132 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Iovance Biotherapeutics Inc. [IOVA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IOVA shares is $38.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IOVA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Iovance Biotherapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 07, 2021. The new note on the price target was released on June 10, 2021, representing the official price target for Iovance Biotherapeutics Inc. stock. Previously, the target price had yet another drop from $35 to $18, while Piper Sandler kept a Neutral rating on IOVA stock.

The Average True Range (ATR) for Iovance Biotherapeutics Inc. is set at 1.22 The Price to Book ratio for the last quarter was 3.33, with the Price to Cash per share for the same quarter was set at 3.77.

How has IOVA stock performed recently?

Iovance Biotherapeutics Inc. [IOVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.12. With this latest performance, IOVA shares dropped by -17.90% in over the last four-week period, additionally sinking by -33.64% over the last 6 months – not to mention a drop of -70.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IOVA stock in for the last two-week period is set at 29.28, with the RSI for the last a single of trading hit 25.59, and the three-weeks RSI is set at 32.10 for Iovance Biotherapeutics Inc. [IOVA]. The present Moving Average for the last 50 days of trading for this stock 19.34, while it was recorded at 15.25 for the last single week of trading, and 23.58 for the last 200 days.

Iovance Biotherapeutics Inc. [IOVA]: Deeper insight into the fundamentals

Iovance Biotherapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.00 and a Current Ratio set at 9.00.

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Insider trade positions for Iovance Biotherapeutics Inc. [IOVA]

There are presently around $2,343 million, in the hands of institutional investors. The top three institutional holders of IOVA stocks are: VANGUARD GROUP INC with ownership of 11,928,989, which is approximately -2.512% of the company’s market cap and around 0.60% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 11,649,837 shares of the stock with an approximate value of $174.16 million in IOVA stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $171.77 million in IOVA stock with ownership of nearly 4.836% of the company’s market capitalization.

121 institutional holders increased their position in Iovance Biotherapeutics Inc. [NASDAQ:IOVA] by around 13,803,323 shares. Additionally, 114 investors decreased positions by around 17,810,327 shares, while 29 investors held positions by with 125,125,675 shares. The mentioned changes placed institutional holdings at 156,739,325 shares, according to the latest SEC report filing. IOVA stock had 33 new institutional investments in for a total of 5,486,626 shares, while 26 institutional investors sold positions of 1,468,087 shares during the same period.