JMP Securities Reiterates “Market Perform” Rating for Iovance Biotherapeutics (NASDAQ:IOVA)

JMP Securities restated their market perform rating on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research report report published on Friday,Benzinga reports.

A number of other brokerages have also recently commented on IOVA. HC Wainwright lowered their target price on Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial decreased their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Piper Sandler decreased their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Barclays cut their price objective on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Iovance Biotherapeutics Stock Down 44.8 %

NASDAQ:IOVA opened at $1.75 on Friday. Iovance Biotherapeutics has a 52-week low of $1.65 and a 52-week high of $13.20. The stock has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $6.12. The company has a market capitalization of $584.38 million, a PE ratio of -1.17 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. The business’s revenue was up 6795.1% on a year-over-year basis. As a group, equities analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds have recently modified their holdings of the stock. AlphaQuest LLC increased its position in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter valued at $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth $47,000. One68 Global Capital LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth $74,000. Finally, Quarry LP acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $74,000. 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.