Iovance Biotherapeutics (IOVA) Downgraded by Zacks Investment Research

Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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 research analysts have also recently issued reports on IOVA. Oppenheimer reiterated a “buy” rating and issued a $13.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, September 26th. HC Wainwright set a $16.00 price target on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Wednesday. B. Riley restated a “buy” rating and issued a $18.00 price target on shares of Iovance Biotherapeutics in a research report on Monday, November 13th. BidaskClub cut Iovance Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, FBR & Co restated a “buy” rating and issued a $17.50 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Iovance Biotherapeutics currently has an average rating of “Buy” and a consensus price target of $14.72.

Iovance Biotherapeutics (NASDAQ:IOVA) traded up $1.07 during trading hours on Friday, reaching $10.70. The company’s stock had a trading volume of 1,736,591 shares, compared to its average volume of 550,156. The stock has a market capitalization of $863.97, a PE ratio of -8.17 and a beta of 4.89. Iovance Biotherapeutics has a 1 year low of $4.45 and a 1 year high of $11.35.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). equities analysts expect that Iovance Biotherapeutics will post -1.36 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $103,000. Parametric Portfolio Associates LLC purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $125,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Iovance Biotherapeutics in the third quarter valued at $133,000. Edge Wealth Management LLC purchased a new position in shares of Iovance Biotherapeutics in the third quarter valued at $150,000. Finally, People s United Financial Inc. purchased a new position in shares of Iovance Biotherapeutics in the second quarter valued at $143,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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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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