Iovance Biotherapeutics (NASDAQ:IOVA) Now Covered by Analysts at UBS Group

Equities research analysts at UBS Group initiated coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $17.00 price target on the biotechnology company’s stock. UBS Group’s price objective points to a potential upside of 59.33% from the company’s previous close.

Several other equities research analysts also recently weighed in on IOVA. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Finally, Piper Sandler downgraded shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $10.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Iovance Biotherapeutics Price Performance

NASDAQ IOVA opened at $10.67 on Thursday. Iovance Biotherapeutics has a 1 year low of $3.47 and a 1 year high of $18.33. The company has a market capitalization of $2.99 billion, a PE ratio of -5.93 and a beta of 0.62. The company has a fifty day moving average of $10.25 and a two-hundred day moving average of $9.89.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The business had revenue of $31.11 million during the quarter, compared to the consensus estimate of $24.59 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. The business’s quarterly revenue was up 12969.7% compared to the same quarter last year. On average, research analysts expect that Iovance Biotherapeutics will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IOVA. Vanguard Group Inc. raised its holdings in Iovance Biotherapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 22,812,820 shares of the biotechnology company’s stock worth $185,468,000 after purchasing an additional 669,350 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Iovance Biotherapeutics by 42.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 407,429 shares of the biotechnology company’s stock valued at $6,038,000 after buying an additional 121,395 shares in the last quarter. Diversified Trust Co increased its holdings in Iovance Biotherapeutics by 14.8% in the first quarter. Diversified Trust Co now owns 15,511 shares of the biotechnology company’s stock valued at $230,000 after buying an additional 1,999 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Iovance Biotherapeutics in the first quarter valued at about $1,245,000. Finally, Fidelis Capital Partners LLC purchased a new position in Iovance Biotherapeutics in the first quarter valued at about $87,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.