Lion Biotechnologies Inc. (LBIO) Stock Price Down 4.4%
Lion Biotechnologies Inc. (NASDAQ:LBIO) was down 4.4% on Wednesday . The stock traded as low as $7.94 and last traded at $8.00, with a volume of 212,595 shares traded. The stock had previously closed at $8.37.
LBIO has been the topic of a number of research analyst reports. Roth Capital reissued a “buy” rating and set a $15.00 price target on shares of Lion Biotechnologies in a report on Saturday, July 9th. Zacks Investment Research raised Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Tuesday, June 14th. FBR & Co reissued a “buy” rating on shares of Lion Biotechnologies in a report on Monday, June 6th. Chardan Capital reissued a “buy” rating on shares of Lion Biotechnologies in a report on Saturday, June 4th. Finally, SunTrust Banks Inc. lowered Lion Biotechnologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $30.50 in a report on Monday, June 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.17.
The firm’s 50-day moving average is $8.65 and its 200 day moving average is $6.76. The stock’s market capitalization is $467.49 million.
Lion Biotechnologies (NASDAQ:LBIO) last announced its quarterly earnings data on Monday, August 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Equities analysts forecast that Lion Biotechnologies Inc. will post ($0.88) EPS for the current fiscal year.
In other news, Director Sanford Hillsberg sold 54,000 shares of Lion Biotechnologies stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $8.95, for a total transaction of $483,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Lion Biotechnologies, Inc is a clinical-stage biotechnology company. The Company is focused on developing and commercializing cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead pipeline candidate, LN-144, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma.
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