Iovance Biotherapeutics (NASDAQ:IOVA) Receives Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report published on Friday,Benzinga reports.

Several other research analysts have also commented on IOVA. Chardan Capital cut their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Truist Financial lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird reduced their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, Piper Sandler lowered their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Iovance Biotherapeutics Trading Down 44.8 %

Shares of NASDAQ:IOVA opened at $1.75 on Friday. The firm has a 50 day simple moving average of $3.36 and a 200-day simple moving average of $6.12. The company has a market capitalization of $584.38 million, a PE ratio of -1.17 and a beta of 1.06. Iovance Biotherapeutics has a twelve month low of $1.65 and a twelve month high of $13.20.

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

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently modified their holdings of the business. Man Group plc acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $17,871,000. Assenagon Asset Management S.A. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth $12,927,000. Raymond James Financial Inc. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth $11,568,000. Principal Financial Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after purchasing an additional 1,496,941 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth about $8,365,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.