Iovance Biotherapeutics (NASDAQ:IOVA) Lowered to "Sell" Rating by The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) was downgraded by investment analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

IOVA has been the topic of a number of other reports. Mizuho lowered their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a research note on Monday, May 12th. HC Wainwright lowered their target price on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Baird R W lowered shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Citizens Jmp lowered shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of "Hold" and a consensus target price of $12.22.

Iovance Biotherapeutics Stock Up 4.9%

Shares of IOVA traded up $0.11 during mid-day trading on Tuesday, hitting $2.34. 24,847,307 shares of the company's stock were exchanged, compared to its average volume of 9,420,047. The firm has a fifty day moving average of $1.91 and a two-hundred day moving average of $3.72. Iovance Biotherapeutics has a twelve month low of $1.64 and a twelve month high of $12.51. The stock has a market cap of $781.40 million, a price-to-earnings ratio of -1.89 and a beta of 0.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same quarter last year, the company earned ($0.42) EPS. The business's revenue for the quarter was up 6795.1% compared to the same quarter last year. On average, equities analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its holdings in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Iovance Biotherapeutics by 1.0% during the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after purchasing an additional 2,000 shares during the last quarter. Algert Global LLC lifted its holdings in Iovance Biotherapeutics by 4.3% during the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock valued at $417,000 after purchasing an additional 2,330 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Iovance Biotherapeutics by 3.9% during the 4th quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock valued at $586,000 after purchasing an additional 2,951 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Iovance Biotherapeutics by 18.5% during the 4th quarter. Xponance Inc. now owns 19,607 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 3,066 shares during the last quarter. 77.03% of the stock is owned by 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.