Iovance Biotherapeutics (NASDAQ:IOVA) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) to a sell rating in a report published on Monday.

Other equities analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Iovance Biotherapeutics from an overweight rating to a neutral rating and cut their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. HC Wainwright reissued a buy rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday. Finally, JMP Securities decreased their target price on Iovance Biotherapeutics from $25.00 to $23.00 and set a market outperform rating for the company in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $24.00.

Iovance Biotherapeutics Trading Down 5.9 %

Shares of IOVA opened at $10.11 on Monday. Iovance Biotherapeutics has a twelve month low of $3.21 and a twelve month high of $18.33. The firm has a market capitalization of $2.83 billion, a P/E ratio of -5.62 and a beta of 0.63. The stock’s fifty day simple moving average is $8.37 and its 200 day simple moving average is $10.88.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The company’s quarterly revenue was up 12969.7% compared to the same quarter last year. During the same period last year, the business posted ($0.47) EPS. Sell-side analysts predict that Iovance Biotherapeutics will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently made changes to their positions in the business. Diversified Trust Co increased its stake in shares of Iovance Biotherapeutics by 9.5% in the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,469 shares during the last quarter. Xponance Inc. increased its position in shares of Iovance Biotherapeutics by 13.0% in the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 1,873 shares during the last quarter. Pale Fire Capital SE raised its stake in shares of Iovance Biotherapeutics by 12.7% in the 4th quarter. Pale Fire Capital SE now owns 17,024 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 1,924 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Iovance Biotherapeutics by 3.8% during the second quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock worth $439,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Iovance Biotherapeutics by 15.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 20,559 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 2,688 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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.