Iovance Biotherapeutics (NASDAQ:IOVA) Research Coverage Started at UBS Group

Equities research analysts at UBS Group started coverage on shares of Iovance Biotherapeutics (NASDAQ:IOVA) in a report released on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $17.00 price target on the biotechnology company’s stock. UBS Group’s price target would indicate a potential upside of 73.12% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Monday, August 12th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. Finally, Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $10.00 in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Iovance Biotherapeutics Stock Performance

NASDAQ IOVA opened at $9.82 on Thursday. The stock has a market capitalization of $2.75 billion, a P/E ratio of -5.46 and a beta of 0.62. Iovance Biotherapeutics has a 52 week low of $3.47 and a 52 week high of $18.33. The stock has a fifty day moving average of $10.25 and a 200-day moving average of $9.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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 return on equity of 65.04% and a negative net margin of 1,343.27%. The firm had revenue of $31.11 million during the quarter, compared to analyst estimates of $24.59 million. During the same period last year, the company earned ($0.47) earnings per share. 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 hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after buying an additional 2,624 shares during the period. nVerses Capital LLC bought a new stake in shares of Iovance Biotherapeutics during the third quarter worth $148,000. Vontobel Holding Ltd. raised its holdings in shares of Iovance Biotherapeutics by 32.5% during the third quarter. Vontobel Holding Ltd. now owns 18,940 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 4,647 shares during the period. Creative Planning lifted its position in Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 1,896 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $89,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.