Citizens Jmp Downgrades Iovance Biotherapeutics (NASDAQ:IOVA) to Market Perform

Citizens Jmp downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) from an outperform rating to a market perform rating in a research report report published on Friday, MarketBeat Ratings reports.

Several other brokerages have also recently commented on IOVA. HC Wainwright reduced their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a research note on Friday. Truist Financial lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Barclays reduced their price objective on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.80.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock traded up $0.18 during trading hours on Friday, reaching $1.93. The company's stock had a trading volume of 37,555,944 shares, compared to its average volume of 8,315,810. Iovance Biotherapeutics has a one year low of $1.65 and a one year high of $12.51. The company has a market capitalization of $644.49 million, a P/E ratio of -1.30 and a beta of 1.06. The stock's fifty day simple moving average is $3.32 and its two-hundred day simple moving average is $6.00.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm's revenue for the quarter was up 6795.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. As a group, research analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its stake in shares of Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. GF Fund Management CO. LTD. acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at approximately $47,000. One68 Global Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $74,000. Finally, Quarry LP acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $74,000. Hedge funds and other 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.