Iovance Biotherapeutics (IOVA) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Iovance Biotherapeutics (NASDAQ:IOVA) from a sell rating to a hold rating in a report published on Wednesday morning.

A number of other equities research analysts have also commented on IOVA. HC Wainwright restated a buy rating and set a $22.00 price objective on shares of Iovance Biotherapeutics in a report on Friday, May 11th. B. Riley raised their price objective on shares of Iovance Biotherapeutics from $22.00 to $24.00 and gave the stock a buy rating in a report on Friday, May 11th. Finally, ValuEngine upgraded shares of Iovance Biotherapeutics from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $20.81.

Shares of NASDAQ:IOVA opened at $12.80 on Wednesday. Iovance Biotherapeutics has a 12 month low of $4.45 and a 12 month high of $19.90. The firm has a market cap of $1.16 billion, a P/E ratio of -9.08 and a beta of 5.43.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). analysts predict that Iovance Biotherapeutics will post -1.27 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. venBio Select Advisor LLC increased its stake in Iovance Biotherapeutics by 53.8% in the 1st quarter. venBio Select Advisor LLC now owns 8,078,505 shares of the biotechnology company’s stock valued at $136,527,000 after buying an additional 2,825,055 shares during the last quarter. BlackRock Inc. increased its stake in Iovance Biotherapeutics by 18.9% in the 1st quarter. BlackRock Inc. now owns 5,783,847 shares of the biotechnology company’s stock valued at $97,747,000 after buying an additional 919,006 shares during the last quarter. Franklin Resources Inc. increased its stake in Iovance Biotherapeutics by 6.6% in the 1st quarter. Franklin Resources Inc. now owns 5,310,163 shares of the biotechnology company’s stock valued at $89,742,000 after buying an additional 330,697 shares during the last quarter. Perceptive Advisors LLC increased its stake in Iovance Biotherapeutics by 1.1% in the 4th quarter. Perceptive Advisors LLC now owns 4,776,114 shares of the biotechnology company’s stock valued at $38,208,000 after buying an additional 50,000 shares during the last quarter. Finally, Farallon Capital Management LLC increased its stake in Iovance Biotherapeutics by 122.3% in the 1st quarter. Farallon Capital Management LLC now owns 4,150,000 shares of the biotechnology company’s stock valued at $70,135,000 after buying an additional 2,283,100 shares during the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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