Lion Biotechnologies, Inc. (NASDAQ:IOVA) shares were up 8.3% during mid-day trading on Tuesday . The stock traded as high as $6.70 and last traded at $6.50. Approximately 938,971 shares changed hands during trading, an increase of 174% from the average daily volume of 342,583 shares. The stock had previously closed at $6.00.

Several research analysts recently issued reports on IOVA shares. Rodman & Renshaw started coverage on shares of Lion Biotechnologies in a research report on Wednesday, May 10th. They set a “buy” rating and a $13.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $11.00 price target on shares of Lion Biotechnologies in a research report on Thursday, May 18th. FBR & Co reiterated a “buy” rating on shares of Lion Biotechnologies in a research report on Thursday, May 18th. Chardan Capital reiterated a “buy” rating on shares of Lion Biotechnologies in a research report on Wednesday, May 17th. Finally, Cowen and Company reiterated a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, May 20th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $13.88.

The firm has a 50 day moving average of $5.58 and a 200 day moving average of $6.43. The stock’s market capitalization is $416.87 million.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of Lion Biotechnologies during the 2nd quarter valued at about $103,000. Parametric Portfolio Associates LLC bought a new position in shares of Lion Biotechnologies during the 2nd quarter valued at about $125,000. People s United Financial Inc. bought a new position in shares of Lion Biotechnologies during the 2nd quarter valued at about $143,000. Voya Investment Management LLC bought a new position in shares of Lion Biotechnologies during the 2nd quarter valued at about $208,000. Finally, ProShare Advisors LLC bought a new position in shares of Lion Biotechnologies during the 2nd quarter valued at about $270,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.

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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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