Baird R W Downgrades Iovance Biotherapeutics (NASDAQ:IOVA) to Hold

Baird R W downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) from a strong-buy rating to a hold rating in a report published on Friday,Zacks.com reports.

Several other equities analysts have also weighed in on IOVA. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a report on Friday. Truist Financial reduced 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. Robert W. Baird cut their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday. Finally, HC Wainwright cut their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.80.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock traded down $0.11 during mid-day trading on Friday, reaching $1.83. The company had a trading volume of 3,333,875 shares, compared to its average volume of 8,302,950. The company has a market capitalization of $609.43 million, a P/E ratio of -1.23 and a beta of 1.06. Iovance Biotherapeutics has a 1 year low of $1.65 and a 1 year high of $12.51. The stock's 50-day simple moving average is $3.32 and its 200-day simple moving average is $6.00.

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

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Accredited Investors Inc. purchased a new position in shares of Iovance Biotherapeutics in the first quarter worth about $33,000. AlphaQuest LLC raised its stake in shares of 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 period. SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics in the fourth quarter valued at $36,000. FNY Investment Advisers LLC purchased a new position in shares of Iovance Biotherapeutics during the first quarter worth approximately $39,000. Finally, Gould Asset Management LLC CA bought a new stake in shares of Iovance Biotherapeutics in the 1st quarter worth approximately $39,000. 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.