Iovance Biotherapeutics’ (IOVA) “Market Perform” Rating Reiterated at JMP Securities

Iovance Biotherapeutics (NASDAQ:IOVA)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a note issued to investors on Friday,Benzinga reports.

Several other brokerages have also commented on IOVA. The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Piper Sandler cut their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. HC Wainwright reduced their price target on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Friday. Chardan Capital lowered their price target on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday. Finally, Truist Financial reduced their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

Iovance Biotherapeutics Trading Down 44.8 %

Shares of NASDAQ IOVA opened at $1.75 on Friday. Iovance Biotherapeutics has a 12-month low of $1.65 and a 12-month high of $12.51. The company has a market cap of $584.38 million, a price-to-earnings ratio of -1.17 and a beta of 1.06. The stock’s 50 day simple moving average is $3.36 and its 200 day simple moving average is $6.10.

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Iovance Biotherapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock worth $92,500,000 after purchasing an additional 243,438 shares during the last quarter. Hood River Capital Management LLC grew its position in Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after buying an additional 846,936 shares during the last quarter. Geode Capital Management LLC grew its position in Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after buying an additional 222,425 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Iovance Biotherapeutics by 13.2% in the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock valued at $37,977,000 after buying an additional 600,000 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Iovance Biotherapeutics by 28.7% during the 1st quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company’s stock valued at $15,631,000 after acquiring an additional 1,047,335 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

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.