Iovance Biotherapeutics Inc (NASDAQ:IOVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

Several other brokerages have also recently commented on IOVA. HC Wainwright set a $16.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Monday, October 30th. Oppenheimer Holdings, Inc. set a $13.00 price objective on shares of Iovance Biotherapeutics and gave the company a “buy” rating in a research note on Thursday, October 12th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a research note on Sunday, October 29th. FBR & Co reaffirmed a “buy” rating and set a $17.50 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, October 25th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Iovance Biotherapeutics in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $14.53.

Iovance Biotherapeutics (NASDAQ IOVA) traded up $0.40 on Friday, hitting $7.80. 369,293 shares of the stock traded hands, compared to its average volume of 493,620. Iovance Biotherapeutics has a 52-week low of $4.45 and a 52-week high of $8.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). equities research analysts expect that Iovance Biotherapeutics will post -1.4 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $103,000. Parametric Portfolio Associates LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $125,000. People s United Financial Inc. purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $143,000. Edge Wealth Management LLC purchased a new position in Iovance Biotherapeutics in the 3rd quarter worth approximately $150,000. Finally, Voya Investment Management LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $208,000. 66.57% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

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