Iovance Biotherapeutics (NASDAQ:IOVA) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Iovance Biotherapeutics has been assigned a "sell (e+)" rating by Weiss Ratings and has an average rating of "Hold" from several analysts.
• The company's stock price target was recently reduced by various analysts, with Chardan Capital dropping it to $20 and Wells Fargo lowering it to $14.
• Iovance Biotherapeutics reported a loss of ($0.33) earnings per share for the last quarter, missing analyst estimates, and had revenue significantly below expectations.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the company. Chardan Capital dropped 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. Wells Fargo & Company decreased their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. The Goldman Sachs Group cut shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a report on Tuesday, July 15th. Finally, Zacks Research upgraded shares of Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $11.90.

Iovance Biotherapeutics Stock Up 4.1%

Shares of IOVA stock opened at $2.27 on Wednesday. The firm has a fifty day moving average of $2.34 and a 200-day moving average of $2.46. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $12.51. The company has a market capitalization of $821.40 million, a price-to-earnings ratio of -1.85 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share 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 return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, equities analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IOVA. WealthTrust Axiom LLC increased its stake in shares of Iovance Biotherapeutics by 80.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 8,000 shares during the last quarter. Accredited Investors Inc. bought a new position in Iovance Biotherapeutics during the first quarter worth about $33,000. Diversify Wealth Management LLC bought a new position in Iovance Biotherapeutics during the second quarter worth about $34,000. Flputnam Investment Management Co. bought a new position in Iovance Biotherapeutics during the first quarter worth about $37,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $38,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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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