Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Iovance Biotherapeutics, Inc. has received an average consensus recommendation of "Hold" from analysts, with one sell, seven hold, and six buy ratings.
• The company's stock price target has varied, with some brokerages lowering their projections significantly, including Goldman Sachs downgrading to "sell" and Barclays reducing their target from $5.00 to $4.00.
• During Q2, institutional investors demonstrated increased interest in Iovance, with several firms significantly raising their stakes, resulting in 77.03% of the stock being owned by institutional investors.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) has received an average recommendation of "Hold" from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.90.

A number of brokerages have weighed in on IOVA. The Goldman Sachs Group downgraded Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. Barclays decreased their target price on Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company decreased their target price on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Chardan Capital decreased their target price on Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in IOVA. Osaic Holdings Inc. lifted its stake in Iovance Biotherapeutics by 106.7% during the second quarter. Osaic Holdings Inc. now owns 88,856 shares of the biotechnology company's stock worth $154,000 after purchasing an additional 45,877 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Iovance Biotherapeutics by 115.2% during the second quarter. Squarepoint Ops LLC now owns 856,569 shares of the biotechnology company's stock worth $1,473,000 after purchasing an additional 458,540 shares during the last quarter. Cim Investment Management Inc. lifted its stake in Iovance Biotherapeutics by 100.7% during the second quarter. Cim Investment Management Inc. now owns 61,117 shares of the biotechnology company's stock worth $105,000 after purchasing an additional 30,671 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Iovance Biotherapeutics during the second quarter worth $75,000. Finally, Tower Research Capital LLC TRC lifted its stake in Iovance Biotherapeutics by 277.4% during the second quarter. Tower Research Capital LLC TRC now owns 41,723 shares of the biotechnology company's stock worth $72,000 after purchasing an additional 30,668 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Price Performance

IOVA opened at $2.38 on Tuesday. The business's 50-day moving average price is $2.40 and its two-hundred day moving average price is $2.73. Iovance Biotherapeutics has a 1 year low of $1.64 and a 1 year high of $12.51. The company has a market capitalization of $861.20 million, a price-to-earnings ratio of -1.93 and a beta of 0.82.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The company had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

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.

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