Iovance Biotherapeutics (IOVA) Downgraded by ValuEngine

Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

IOVA has been the subject of several other reports. HC Wainwright reissued a “buy” rating and set a $26.00 price objective (up from $22.00) on shares of Iovance Biotherapeutics in a report on Friday, October 12th. Citigroup raised their price objective on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, October 12th. Zacks Investment Research lowered shares of Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. BidaskClub lowered shares of Iovance Biotherapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, Cowen reissued a “buy” rating on shares of Iovance Biotherapeutics in a report on Tuesday. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Iovance Biotherapeutics currently has an average rating of “Buy” and a consensus target price of $23.75.

IOVA stock traded down $0.65 during mid-day trading on Tuesday, hitting $8.80. 3,461,924 shares of the company were exchanged, compared to its average volume of 1,186,993. The firm has a market cap of $938.72 million, a P/E ratio of -6.24 and a beta of 3.03. Iovance Biotherapeutics has a twelve month low of $7.13 and a twelve month high of $19.90.

Several hedge funds and other institutional investors have recently bought and sold shares of IOVA. Nantahala Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $10,560,000. BlackRock Inc. boosted its holdings in shares of Iovance Biotherapeutics by 8.9% in the 2nd quarter. BlackRock Inc. now owns 6,296,691 shares of the biotechnology company’s stock valued at $80,598,000 after buying an additional 512,844 shares during the period. RA Capital Management LLC boosted its holdings in shares of Iovance Biotherapeutics by 70.1% in the 2nd quarter. RA Capital Management LLC now owns 1,121,153 shares of the biotechnology company’s stock valued at $14,351,000 after buying an additional 462,094 shares during the period. Cheyne Capital Management UK LLP acquired a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $4,500,000. Finally, C WorldWide Group Holding A S acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $4,934,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Company Profile

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.

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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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