Iovance Biotherapeutics (NASDAQ:IOVA) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $17.00 target price on the biotechnology company's stock.

A number of other analysts have also weighed in on IOVA. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded up $0.74 during trading hours on Thursday, hitting $10.56. 5,334,945 shares of the company's stock were exchanged, compared to its average volume of 7,175,158. Iovance Biotherapeutics has a 52 week low of $3.47 and a 52 week high of $18.33. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -5.87 and a beta of 0.62. The stock's 50-day moving average is $10.24 and its 200-day moving average is $9.91.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.01. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. The firm had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. During the same quarter in the prior year, the firm earned ($0.47) EPS. The company's revenue was up 12969.7% on a year-over-year basis. Equities research analysts forecast that Iovance Biotherapeutics will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently made changes to their positions in IOVA. ORG Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth about $32,000. Quest Partners LLC boosted its stake in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its holdings in Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 7,781 shares during the period. Finally, Abacus Planning Group Inc. bought a new stake in Iovance Biotherapeutics in the second quarter valued at approximately $82,000. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

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.