Zacks Investment Research upgraded shares of Lion Biotechnologies, Inc. (NASDAQ:IOVA) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $8.25 price objective on the biotechnology company’s stock.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It 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. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

Other research analysts have also recently issued research reports about the company. Chardan Capital reiterated a buy rating on shares of Lion Biotechnologies in a research note on Thursday, September 7th. HC Wainwright reiterated a buy rating and issued a $16.00 price target on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. Cowen and Company reiterated a buy rating on shares of Lion Biotechnologies in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. set a $13.00 price target on Lion Biotechnologies and gave the stock a buy rating in a research note on Monday, September 11th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $11.00 price target on shares of Lion Biotechnologies in a research note on Tuesday, September 5th. Ten equities research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $14.03.

Shares of Lion Biotechnologies (IOVA) traded down 0.692% during midday trading on Tuesday, hitting $7.175. The stock had a trading volume of 281,864 shares. The stock has a 50 day moving average of $7.46 and a 200-day moving average of $6.47. The company’s market cap is $513.21 million. Lion Biotechnologies has a one year low of $4.45 and a one year high of $8.60.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new stake in Lion Biotechnologies during the second quarter valued at approximately $19,013,000. Frazier Management LLC acquired a new stake in Lion Biotechnologies during the second quarter valued at approximately $15,209,000. Rhumbline Advisers acquired a new stake in Lion Biotechnologies during the second quarter valued at approximately $468,000. AXA acquired a new stake in Lion Biotechnologies during the second quarter valued at approximately $4,989,000. Finally, Russell Investments Group Ltd. acquired a new stake in Lion Biotechnologies during the second quarter valued at approximately $380,000. Hedge funds and other institutional investors own 66.60% of the company’s stock.

Lion Biotechnologies Company Profile

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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