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

Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by equities researchers at Truist Financial from a “buy” rating to a “hold” rating in a report issued on Monday,Briefing.com Automated Import reports.

A number of other equities analysts also recently commented on the stock. Piper Sandler dropped their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. HC Wainwright dropped their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird decreased their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Barclays cut their price target on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Baird R W cut shares of Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.33.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $1.75 on Monday. The firm has a market capitalization of $584.38 million, a PE ratio of -1.17 and a beta of 1.06. The business has a 50 day simple moving average of $3.36 and a two-hundred day simple moving average of $6.07. Iovance Biotherapeutics has a 1 year low of $1.65 and a 1 year high of $12.51.

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its stake in Iovance Biotherapeutics by 97.6% in the first quarter. Chicago Partners Investment Group LLC now owns 40,626 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 20,067 shares during the last quarter. CM Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 66.7% in the 1st quarter. CM Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $1,665,000 after buying an additional 200,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock worth $92,500,000 after buying an additional 243,438 shares during the last quarter. Raiffeisen Bank International AG boosted its stake in shares of Iovance Biotherapeutics by 44.1% in the first quarter. Raiffeisen Bank International AG now owns 147,000 shares of the biotechnology company’s stock worth $523,000 after buying an additional 45,000 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Iovance Biotherapeutics by 266.4% during the 1st quarter. US Bancorp DE now owns 45,795 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 33,298 shares during the period. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.