Iovance Biotherapeutics (NASDAQ:IOVA) Upgraded at Truist Financial

Truist Financial upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other research firms have also weighed in on IOVA. Citizens Jmp raised shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 target price for the company in a report on Tuesday, March 3rd. Barclays increased their price target on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. UBS Group raised their price target on shares of Iovance Biotherapeutics from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $2.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics has an average rating of “Hold” and an average target price of $8.88.

Iovance Biotherapeutics Stock Down 4.9%

Iovance Biotherapeutics stock opened at $3.51 on Wednesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.13 and a beta of 0.69. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $5.63. The business’s 50-day moving average price is $3.32 and its 200 day moving average price is $2.67.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. Iovance Biotherapeutics had a negative return on equity of 54.54% and a negative net margin of 148.41%.The company had revenue of $86.77 million during the quarter, compared to analysts’ expectations of $81.61 million. Equities analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. acquired a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $26,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Iovance Biotherapeutics in the 3rd quarter worth $27,000. Arcataur Capital Management LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $29,000. Granite Investment Partners LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $29,000. Finally, Motley Fool Asset Management LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.