Iovance Biotherapeutics (NASDAQ:IOVA) Downgraded by Citizens Jmp to Market Perform

Citizens Jmp lowered shares of Iovance Biotherapeutics (NASDAQ:IOVA) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on IOVA. Truist Financial decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Robert W. Baird dropped their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Chardan Capital cut their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

Iovance Biotherapeutics Trading Down 44.8 %

Shares of IOVA opened at $1.75 on Friday. The stock’s 50-day moving average price is $3.36 and its two-hundred day moving average price is $6.12. Iovance Biotherapeutics has a 12 month low of $1.65 and a 12 month high of $13.20. The company has a market capitalization of $584.38 million, a PE ratio of -1.17 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The company had revenue of $49.32 million during 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%. Iovance Biotherapeutics’s revenue was up 6795.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.42) earnings per share. Equities research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake in Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares during the period. Franklin Resources Inc. grew its position in Iovance Biotherapeutics by 9.2% during the third quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company’s stock valued at $979,000 after buying an additional 8,470 shares during the period. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Iovance Biotherapeutics in the fourth quarter worth about $12,927,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $150,000. Institutional investors own 77.03% of the company’s stock.

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.