Iovance Biotherapeutics (NASDAQ:IOVA) Rating Lowered to “Neutral” at UBS Group

Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $2.00 price target on the biotechnology company’s stock, down from their previous price target of $17.00. UBS Group’s price target would suggest a potential upside of 20.48% from the stock’s previous close.

A number of other equities analysts also recently issued reports on IOVA. HC Wainwright decreased their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 9th. Piper Sandler decreased their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Mizuho decreased their price objective on Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, May 12th. Truist Financial cut Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Baird R W cut Iovance Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.30.

Iovance Biotherapeutics Stock Down 5.7%

Shares of Iovance Biotherapeutics stock opened at $1.66 on Friday. The business has a 50 day moving average of $3.16 and a 200 day moving average of $5.78. The company has a market cap of $554.33 million, a PE ratio of -1.11 and a beta of 1.06. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week 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). The firm had revenue of $49.32 million during the quarter, compared to the consensus estimate 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 for the quarter was up 6795.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) EPS. On average, research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors have recently modified their holdings of the business. AlphaQuest LLC boosted its position in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at $36,000. GF Fund Management CO. LTD. purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at $47,000. One68 Global Capital LLC purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at $74,000. Finally, Quarry LP purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at $74,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.