ValuEngine downgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
Several other research firms have also weighed in on IOVA. HC Wainwright reissued a buy rating and set a $22.00 price objective on shares of Iovance Biotherapeutics in a research note on Tuesday, September 25th. BidaskClub lowered Iovance Biotherapeutics from a hold rating to a sell rating in a research note on Friday, September 28th. Zacks Investment Research lowered Iovance Biotherapeutics from a hold rating to a sell rating in a research note on Thursday, July 12th. Cowen reissued a buy rating on shares of Iovance Biotherapeutics in a research note on Tuesday. Finally, Citigroup raised their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an outperform rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $23.75.
IOVA opened at $8.97 on Tuesday. The firm has a market cap of $874.67 million, a PE ratio of -6.36 and a beta of 3.03. Iovance Biotherapeutics has a fifty-two week low of $7.40 and a fifty-two week high of $19.90.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03). On average, research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.
Several institutional investors have recently modified their holdings of IOVA. FIL Ltd acquired a new stake in shares of Iovance Biotherapeutics in the third quarter worth $15,032,000. Nantahala Capital Management LLC acquired a new stake in shares of Iovance Biotherapeutics in the second quarter worth $10,560,000. BlackRock Inc. boosted its position in shares of Iovance Biotherapeutics by 8.9% in the second quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock worth $80,598,000 after buying an additional 512,844 shares during the period. RA Capital Management LLC boosted its position in shares of Iovance Biotherapeutics by 70.1% in the second quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock worth $14,351,000 after buying an additional 462,094 shares during the period. Finally, Cheyne Capital Management UK LLP acquired a new stake in shares of Iovance Biotherapeutics in the third quarter worth $4,500,000. 87.51% of the stock is owned by institutional investors and hedge funds.
About Iovance Biotherapeutics
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 LN-144, 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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