Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Upgraded by Truist Financial

Iovance Biotherapeutics (NASDAQ:IOVA) was upgraded by equities research analysts at Truist Financial to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on IOVA. The Goldman Sachs Group reissued a “sell” rating and issued a $2.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective for the company in a research report on Tuesday, March 3rd. UBS Group boosted their target price on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Chardan Capital dropped their target price on Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.88.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $3.69 on Wednesday. Iovance Biotherapeutics has a one year low of $1.64 and a one year high of $5.63. The company has a market cap of $1.52 billion, a PE ratio of -3.29 and a beta of 0.69. The business has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $2.66.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. The firm had revenue of $86.77 million for the quarter, compared to analysts’ expectations of $81.61 million. On average, sell-side analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC lifted its holdings in shares of Iovance Biotherapeutics by 115.2% in the 2nd quarter. Squarepoint Ops LLC now owns 856,569 shares of the biotechnology company’s stock valued at $1,473,000 after purchasing an additional 458,540 shares during the last quarter. Invenomic Capital Management LP grew its stake in Iovance Biotherapeutics by 27.1% during the 3rd quarter. Invenomic Capital Management LP now owns 10,541,608 shares of the biotechnology company’s stock worth $22,875,000 after buying an additional 2,246,945 shares during the last quarter. Mirador Capital Partners LP acquired a new position in Iovance Biotherapeutics during the third quarter worth approximately $1,118,000. Voss Capital LP acquired a new position in Iovance Biotherapeutics during the second quarter worth approximately $1,157,000. Finally, Virtus Investment Advisers LLC increased its position in Iovance Biotherapeutics by 326.5% during the second quarter. Virtus Investment Advisers LLC now owns 192,378 shares of the biotechnology company’s stock worth $331,000 after buying an additional 147,271 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.