Iovance Biotherapeutics (NASDAQ:IOVA) Lowered to Hold Rating by Truist Financial

Truist Financial downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a buy rating to a hold rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

A number of other brokerages also recently issued reports on IOVA. Piper Sandler dropped their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, HC Wainwright dropped their target price on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.80.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $1.71 on Monday. The firm’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $5.95. Iovance Biotherapeutics has a one year low of $1.65 and a one year high of $12.51. The company has a market cap of $569.36 million, a PE ratio of -1.14 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm’s quarterly revenue was up 6795.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Equities research analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaQuest LLC increased its stake in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Iovance Biotherapeutics by 10.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,950 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Iovance Biotherapeutics by 1.0% in the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company’s stock worth $1,449,000 after acquiring an additional 2,000 shares in the last quarter. Algert Global LLC grew its stake in shares of Iovance Biotherapeutics by 4.3% in the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company’s stock worth $417,000 after acquiring an additional 2,330 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company’s stock worth $586,000 after acquiring an additional 2,951 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.