Iovance Biotherapeutics (NASDAQ:IOVA) Lowered to Hold at ValuEngine

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ValuEngine downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

IOVA has been the topic of a number of other reports. B. Riley set a $28.00 price objective on shares of Iovance Biotherapeutics and gave the company a buy rating in a research note on Friday, August 16th. HC Wainwright restated a buy rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, November 21st. Chardan Capital reiterated a buy rating and issued a $33.00 price target on shares of Iovance Biotherapeutics in a report on Thursday, November 21st. Stifel Nicolaus started coverage on Iovance Biotherapeutics in a research report on Monday, September 30th. They issued a buy rating and a $27.00 price target for the company. Finally, BidaskClub upgraded shares of Iovance Biotherapeutics from a strong sell rating to a sell rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $29.27.

Shares of IOVA stock opened at $24.50 on Tuesday. Iovance Biotherapeutics has a 52-week low of $7.26 and a 52-week high of $26.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.61 and a current ratio of 10.61. The firm has a market capitalization of $2.88 billion, a PE ratio of -19.29 and a beta of 1.99. The stock has a fifty day simple moving average of $21.55 and a two-hundred day simple moving average of $21.04.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.01). On average, sell-side analysts forecast that Iovance Biotherapeutics will post -1.5 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Iovance Biotherapeutics by 46.3% during the 2nd quarter. Vanguard Group Inc. now owns 8,491,841 shares of the biotechnology company’s stock valued at $208,220,000 after purchasing an additional 2,688,963 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Iovance Biotherapeutics by 72.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,023,903 shares of the biotechnology company’s stock valued at $147,706,000 after acquiring an additional 2,531,169 shares during the period. State Street Corp increased its position in shares of Iovance Biotherapeutics by 39.1% in the 3rd quarter. State Street Corp now owns 4,758,219 shares of the biotechnology company’s stock valued at $86,600,000 after acquiring an additional 1,336,353 shares during the period. Bank of America Corp DE raised its stake in Iovance Biotherapeutics by 48.2% in the 2nd quarter. Bank of America Corp DE now owns 3,084,339 shares of the biotechnology company’s stock worth $75,627,000 after acquiring an additional 1,002,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Iovance Biotherapeutics by 178.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,264,096 shares of the biotechnology company’s stock worth $30,996,000 after acquiring an additional 809,398 shares during the period. 97.27% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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