HC Wainwright Issues Pessimistic Forecast for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price reduced by equities researchers at HC Wainwright from $20.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 361.54% from the company’s previous close.

IOVA has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group cut shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Finally, Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics has a consensus rating of “Hold” and a consensus price target of $10.80.

Iovance Biotherapeutics Trading Down 2.5%

NASDAQ:IOVA opened at $1.95 on Wednesday. The company’s 50-day moving average price is $2.24 and its 200-day moving average price is $2.33. The company has a market cap of $705.62 million, a P/E ratio of -1.59 and a beta of 0.83. Iovance Biotherapeutics has a twelve month low of $1.64 and a twelve month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The business had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $67.14 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in IOVA. Invenomic Capital Management LP acquired a new stake in shares of Iovance Biotherapeutics during the first quarter valued at about $18,281,000. Long Focus Capital Management LLC increased its position in shares of Iovance Biotherapeutics by 80.2% during the first quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after acquiring an additional 4,118,055 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after acquiring an additional 3,869,617 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after acquiring an additional 1,301,846 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Iovance Biotherapeutics by 618.2% during the second quarter. Balyasny Asset Management L.P. now owns 1,507,782 shares of the biotechnology company’s stock valued at $2,593,000 after acquiring an additional 1,297,841 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.