Iovance Biotherapeutics (NASDAQ:IOVA) Rating Increased to Hold at Truist Financial

Key Points

• Iovance Biotherapeutics was upgraded by Truist to a "hold" and the analyst consensus on the stock is a Hold with an average price target of $8.88.
• The company beat estimates in the most recent quarter (EPS of ($0.18) and $86.8M revenue) but remains unprofitable with a negative net margin (~148%) and analysts expect about -1.24 EPS for the year.
• Institutional buying has increased materially—big additions from State Street, Vanguard, UBS and others—leaving roughly 77% of the float owned by institutions.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) was upgraded by stock analysts at Truist Financial to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Citizens Jmp upgraded Iovance Biotherapeutics from a "market perform" rating to a "market outperform" rating and set a $5.00 price objective on the stock in a research note on Tuesday, March 3rd. Chardan Capital cut their target price on Iovance Biotherapeutics from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. The Goldman Sachs Group reissued a "sell" rating and set a $2.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. UBS Group raised their price target on Iovance Biotherapeutics from $2.00 to $4.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Finally, Barclays boosted their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.88.

Iovance Biotherapeutics Stock Up 3.6%

NASDAQ IOVA opened at $3.75 on Wednesday. The firm has a 50-day moving average price of $3.27 and a two-hundred day moving average price of $2.66. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $5.63. The company has a market capitalization of $1.54 billion, a P/E ratio of -3.35 and a beta of 0.69.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $86.77 million for the quarter, compared to analysts' expectations of $81.61 million. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. Equities analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Iovance Biotherapeutics by 51.5% in the 4th quarter. State Street Corp now owns 20,161,445 shares of the biotechnology company's stock valued at $55,041,000 after purchasing an additional 6,851,486 shares in the last quarter. Palo Alto Investors LP raised its holdings in shares of Iovance Biotherapeutics by 122.1% during the 3rd quarter. Palo Alto Investors LP now owns 7,618,132 shares of the biotechnology company's stock worth $16,531,000 after buying an additional 4,188,803 shares in the last quarter. HRT Financial LP raised its holdings in shares of Iovance Biotherapeutics by 1,078.3% during the 4th quarter. HRT Financial LP now owns 4,356,010 shares of the biotechnology company's stock worth $11,891,000 after buying an additional 3,986,314 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Iovance Biotherapeutics by 202.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company's stock worth $19,239,000 after buying an additional 3,869,617 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Iovance Biotherapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 27,207,079 shares of the biotechnology company's stock valued at $74,275,000 after buying an additional 3,148,096 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company's lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance's pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance's TIL platform harnesses a patient's own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.

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