Iovance Biotherapeutics (NASDAQ:IOVA) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a hold rating to a sell rating in a research report sent to investors on Friday morning, BidAskClub reports.

IOVA has been the subject of a number of other reports. HC Wainwright reissued a buy rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Tuesday, July 2nd. Jefferies Financial Group boosted their price target on shares of Iovance Biotherapeutics from $29.00 to $33.00 and gave the stock a buy rating in a research note on Monday, June 3rd. ValuEngine raised shares of Iovance Biotherapeutics from a buy rating to a strong-buy rating in a research note on Thursday, May 23rd. Zacks Investment Research raised shares of Iovance Biotherapeutics from a sell rating to a hold rating in a research note on Friday, August 9th. Finally, B. Riley set a $24.00 price target on shares of Iovance Biotherapeutics and gave the stock a buy rating in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $28.82.

IOVA opened at $19.98 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.15 and a quick ratio of 12.14. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -15.73 and a beta of 1.81. The firm has a 50 day simple moving average of $23.69 and a 200 day simple moving average of $15.74. Iovance Biotherapeutics has a fifty-two week low of $7.26 and a fifty-two week high of $26.59.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.09). As a group, analysts expect that Iovance Biotherapeutics will post -1.38 EPS for the current year.

A number of large investors have recently modified their holdings of IOVA. Vanguard Group Inc. increased its stake in Iovance Biotherapeutics by 46.3% in the second quarter. Vanguard Group Inc. now owns 8,491,841 shares of the biotechnology company’s stock valued at $208,220,000 after purchasing an additional 2,688,963 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Iovance Biotherapeutics by 72.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,023,903 shares of the biotechnology company’s stock valued at $147,706,000 after purchasing an additional 2,531,169 shares in the last quarter. Bank of America Corp DE increased its stake in Iovance Biotherapeutics by 48.2% in the second quarter. Bank of America Corp DE now owns 3,084,339 shares of the biotechnology company’s stock valued at $75,627,000 after purchasing an additional 1,002,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Iovance Biotherapeutics by 178.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,264,096 shares of the biotechnology company’s stock valued at $30,996,000 after purchasing an additional 809,398 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Iovance Biotherapeutics by 173.0% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,264,096 shares of the biotechnology company’s stock valued at $30,996,000 after purchasing an additional 801,026 shares in the last quarter. 99.33% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is lifileucel, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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