Lion Biotechnologies, Inc. (NASDAQ:IOVA) was up 0% during trading on Thursday . The company traded as high as $8.00 and last traded at $7.85. Approximately 685,932 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 450,000 shares. The stock had previously closed at $7.85.

A number of equities research analysts have commented on IOVA shares. Zacks Investment Research raised shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. started coverage on shares of Lion Biotechnologies in a research report on Friday, August 4th. They issued an “outperform” rating and a $13.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Lion Biotechnologies in a research report on Wednesday, August 16th. Cowen and Company reaffirmed a “buy” rating on shares of Lion Biotechnologies in a research report on Wednesday, August 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Lion Biotechnologies in a research report on Friday, September 1st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Lion Biotechnologies currently has an average rating of “Buy” and an average target price of $14.53.

Lion Biotechnologies (NASDAQ:IOVA) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). analysts forecast that Lion Biotechnologies, Inc. will post -1.37 EPS for the current year.

Several hedge funds have recently modified their holdings of IOVA. Russell Investments Group Ltd. bought a new stake in shares of Lion Biotechnologies during the 2nd quarter valued at $380,000. Schwab Charles Investment Management Inc. bought a new position in Lion Biotechnologies in the 2nd quarter worth $1,538,000. Rhumbline Advisers bought a new position in Lion Biotechnologies in the 2nd quarter worth $468,000. State of Wisconsin Investment Board bought a new position in Lion Biotechnologies in the 2nd quarter worth $287,000. Finally, Bank of New York Mellon Corp bought a new position in Lion Biotechnologies in the 2nd quarter worth $1,796,000. 66.64% of the stock is owned by hedge funds and other institutional investors.

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About Lion Biotechnologies

Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

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