Iovance Biotherapeutics (NASDAQ:IOVA) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $17.00 price target on the biotechnology company’s stock.

IOVA has been the subject of a number of other research reports. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Piper Sandler lowered shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $10.00 in a report on Monday, July 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Iovance Biotherapeutics Stock Up 0.7 %

Shares of IOVA opened at $10.63 on Thursday. The firm has a fifty day simple moving average of $10.24 and a two-hundred day simple moving average of $9.91. Iovance Biotherapeutics has a twelve month low of $3.47 and a twelve month high of $18.33. The stock has a market capitalization of $2.97 billion, a P/E ratio of -5.87 and a beta of 0.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to analysts’ expectations of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% on a year-over-year basis. During the same period last year, the firm earned ($0.47) earnings per share. Sell-side analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds have recently bought and sold shares of IOVA. ORG Partners LLC bought a new position in shares of Iovance Biotherapeutics during the second quarter valued at approximately $32,000. Quest Partners LLC boosted its holdings in shares of Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after buying an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its position in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 7,781 shares during the period. Finally, Abacus Planning Group Inc. purchased a new position in Iovance Biotherapeutics during the second quarter valued at $82,000. Institutional investors own 77.03% of the company’s stock.

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.