Iovance Biotherapeutics (NASDAQ:IOVA) Earns Buy Rating from Analysts at UBS Group

UBS Group began coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $17.00 price target on the biotechnology company’s stock.

A number of other research firms have also weighed in on IOVA. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. Finally, Piper Sandler cut 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 report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Trading Up 1.0 %

IOVA opened at $10.67 on Thursday. Iovance Biotherapeutics has a 12-month low of $3.47 and a 12-month high of $18.33. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -6.39 and a beta of 0.62. The stock has a fifty day simple moving average of $10.25 and a two-hundred day simple moving average of $9.87.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS 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 for the quarter, compared to analyst estimates of $24.59 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% on a year-over-year basis. On average, analysts predict that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its stake in shares of Iovance Biotherapeutics by 9.5% in the 2nd 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. Exchange Traded Concepts LLC grew its stake in shares of Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 1,776 shares during the period. Xponance Inc. increased its position in shares of Iovance Biotherapeutics by 13.0% during the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 1,873 shares during the last quarter. Creative Planning lifted its stake in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 1,896 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Iovance Biotherapeutics by 3.8% in the second quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock worth $439,000 after buying an additional 1,985 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

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.