Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating of "Hold" by Analysts

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) have earned an average recommendation of "Hold" from the twelve research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.22.

A number of research firms recently weighed in on IOVA. Baird R W cut shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Citizens Jmp lowered shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research report on Friday, May 9th. The Goldman Sachs Group lowered shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a report on Tuesday, July 15th. Barclays cut their price objective on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Finally, Truist Financial downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th.

Iovance Biotherapeutics Stock Up 11.7%

NASDAQ:IOVA traded up $0.26 during trading hours on Monday, reaching $2.49. 22,334,561 shares of the company's stock were exchanged, compared to its average volume of 9,544,213. The company has a market capitalization of $831.49 million, a P/E ratio of -2.01 and a beta of 0.85. Iovance Biotherapeutics has a 12 month low of $1.64 and a 12 month high of $12.51. The business's 50-day simple moving average is $1.90 and its two-hundred day simple moving average is $3.60.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its earnings results 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). Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The company had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same period last year, the business earned ($0.42) EPS. The company's quarterly revenue was up 6795.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Iovance Biotherapeutics by 202.8% in 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 worth $19,239,000 after buying an additional 3,869,617 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Iovance Biotherapeutics by 30.5% in 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 in the last quarter. Teza Capital Management LLC bought a new stake in Iovance Biotherapeutics in the first quarter valued at $51,000. Invenomic Capital Management LP bought a new stake in Iovance Biotherapeutics in the first quarter valued at $18,281,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Iovance Biotherapeutics in the first quarter valued at $4,191,000. 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.