Iovance Biotherapeutics (NASDAQ:IOVA) Cut to Sell at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, MarketBeat reports.

Other equities analysts also recently issued research reports about the company. Citizens Jmp downgraded Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, May 9th. UBS Group lowered shares of Iovance Biotherapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $2.00 in a research report on Friday, May 16th. Truist Financial lowered Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Mizuho lowered their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Hold” and a consensus price target of $12.22.

Iovance Biotherapeutics Stock Up 4.9%

Shares of NASDAQ:IOVA opened at $2.34 on Tuesday. The company’s fifty day moving average is $1.89 and its two-hundred day moving average is $3.69. The company has a market cap of $781.40 million, a P/E ratio of -1.89 and a beta of 0.85. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The business had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $83.40 million. During the same period in the prior year, the company posted ($0.42) earnings per share. The firm’s revenue was up 6795.1% on a year-over-year basis. Equities research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC lifted its position in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Iovance Biotherapeutics during the fourth quarter worth $47,000. One68 Global Capital LLC bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. Quarry LP bought a new position in Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Finally, Fullcircle Wealth LLC acquired a new stake in Iovance Biotherapeutics during the 4th quarter worth approximately $74,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.