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

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Friday.

Several other equities analysts have also recently weighed in on IOVA. JMP Securities cut their price target on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, June 20th. Piper Sandler lifted their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.45.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA traded up $0.29 during trading on Friday, hitting $8.73. The company had a trading volume of 7,205,358 shares, compared to its average volume of 7,860,040. The stock has a 50 day simple moving average of $9.15 and a 200 day simple moving average of $10.80. Iovance Biotherapeutics has a 12 month low of $3.21 and a 12 month high of $18.33. The firm has a market capitalization of $2.44 billion, a P/E ratio of -4.85 and a beta of 0.63.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.03. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.99 million. Iovance Biotherapeutics had a negative return on equity of 71.45% and a negative net margin of 23,615.70%. The firm’s quarterly revenue was up 71400.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.50) EPS. As a group, analysts predict that Iovance Biotherapeutics will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Iovance Biotherapeutics by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock worth $369,245,000 after purchasing an additional 2,102,480 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Iovance Biotherapeutics by 74.6% in the first quarter. Avoro Capital Advisors LLC now owns 11,700,000 shares of the biotechnology company’s stock valued at $173,394,000 after purchasing an additional 5,000,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Iovance Biotherapeutics by 60.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,267,864 shares of the biotechnology company’s stock valued at $78,071,000 after purchasing an additional 1,991,262 shares in the last quarter. Hood River Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 31.1% in the first quarter. Hood River Capital Management LLC now owns 2,624,238 shares of the biotechnology company’s stock valued at $38,891,000 after purchasing an additional 622,728 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Iovance Biotherapeutics by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,747,023 shares of the biotechnology company’s stock valued at $14,203,000 after purchasing an additional 54,490 shares in the last quarter. Institutional investors and hedge funds 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.