Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Given Average Rating 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 earned a consensus recommendation of "Hold" from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $11.90.

Several research firms have recently weighed in on IOVA. The Goldman Sachs Group lowered Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. Chardan Capital decreased their price target on Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 8th. UBS Group lowered Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and reduced their target price for the company from $17.00 to $2.00 in a report on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company cut their price target on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, August 8th.

Iovance Biotherapeutics Trading Down 6.2%

Shares of IOVA traded down $0.15 during mid-day trading on Tuesday, reaching $2.27. The company's stock had a trading volume of 8,510,418 shares, compared to its average volume of 10,704,390. The stock has a market cap of $821.40 million, a P/E ratio of -1.85 and a beta of 0.82. Iovance Biotherapeutics has a 1-year low of $1.64 and a 1-year high of $12.51. The business has a 50-day simple moving average of $2.44 and a two-hundred day simple moving average of $2.66.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The business had revenue of $59.95 million for the quarter, compared to the consensus estimate 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. Research analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in Iovance Biotherapeutics by 7.4% in the 4th quarter. Northern Trust Corp now owns 2,414,807 shares of the biotechnology company's stock worth $17,870,000 after buying an additional 166,231 shares during the period. California State Teachers Retirement System boosted its stake in shares of Iovance Biotherapeutics by 7.3% in the 4th quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company's stock worth $1,504,000 after buying an additional 13,774 shares during the last quarter. CM Management LLC boosted its stake in shares of Iovance Biotherapeutics by 66.7% during the 1st quarter. CM Management LLC now owns 500,000 shares of the biotechnology company's stock worth $1,665,000 after acquiring an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Iovance Biotherapeutics by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company's stock worth $3,058,000 after purchasing an additional 52,376 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Iovance Biotherapeutics during the first quarter worth $2,953,000. Institutional investors own 77.03% of the company's stock.

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.