Iovance Biotherapeutics (NASDAQ:IOVA) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVAFree Report) to a sell rating in a research report report published on Friday.

Several other brokerages also recently commented on IOVA. Truist Financial reiterated a buy rating and issued a $17.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, December 27th. The Goldman Sachs Group began coverage on shares of Iovance Biotherapeutics in a report on Monday, November 20th. They set a buy rating and a $12.00 price objective for the company. Finally, HC Wainwright decreased their price objective on shares of Iovance Biotherapeutics from $38.00 to $28.00 and set a buy rating for the company in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $20.91.

Check Out Our Latest Research Report on Iovance Biotherapeutics

Iovance Biotherapeutics Trading Up 0.3 %

IOVA opened at $7.92 on Friday. The company’s fifty day moving average price is $7.74 and its two-hundred day moving average price is $6.17. Iovance Biotherapeutics has a 1-year low of $3.21 and a 1-year high of $10.31. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -3.83 and a beta of 0.39.

Iovance Biotherapeutics (NASDAQ:IOVAGet Free Report) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.46) EPS for the quarter, meeting the consensus estimate of ($0.46). The firm had revenue of $0.47 million during the quarter, compared to analysts’ expectations of $4.50 million. During the same quarter in the prior year, the company earned ($0.63) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IOVA. Envestnet Asset Management Inc. grew its stake in Iovance Biotherapeutics by 17.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock worth $233,000 after buying an additional 2,099 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Iovance Biotherapeutics by 71.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock worth $18,067,000 after buying an additional 453,337 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Iovance Biotherapeutics by 53.3% in the 1st quarter. Raymond James & Associates now owns 15,386 shares of the biotechnology company’s stock worth $256,000 after acquiring an additional 5,350 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Iovance Biotherapeutics by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,772,007 shares of the biotechnology company’s stock worth $29,504,000 after acquiring an additional 104,913 shares during the last quarter. Finally, AlphaCrest Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 11.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 17,538 shares of the biotechnology company’s stock worth $292,000 after acquiring an additional 1,838 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Iovance Biotherapeutics Company Profile

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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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.

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