Zacks Investment Research Downgrades Iovance Biotherapeutics (NASDAQ:IOVA) to Sell

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Iovance Biotherapeutics (NASDAQ:IOVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Iovance Biotherapeutics, Inc. is a biopharmaceutical company. It focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. Iovance Biotherapeutics Inc., formerly known as Lion Biotechnologies Inc., is based in SAN CARLOS, United States. “

IOVA has been the topic of a number of other research reports. Chardan Capital restated a “buy” rating and issued a $33.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, November 21st. ValuEngine lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Stifel Nicolaus initiated coverage on Iovance Biotherapeutics in a research report on Monday, September 30th. They issued a “buy” rating and a $27.00 price target on the stock. BidaskClub downgraded Iovance Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, JMP Securities began coverage on Iovance Biotherapeutics in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.73.

Iovance Biotherapeutics stock traded down $0.04 on Tuesday, hitting $23.64. 34,157 shares of the stock traded hands, compared to its average volume of 1,284,662. The company has a current ratio of 10.61, a quick ratio of 10.61 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.07 billion, a P/E ratio of -18.61 and a beta of 2.07. The business’s fifty day simple moving average is $26.23 and its 200 day simple moving average is $22.80. Iovance Biotherapeutics has a 1 year low of $8.26 and a 1 year high of $29.67.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Monday, November 4th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.01). As a group, analysts predict that Iovance Biotherapeutics will post -1.5 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Coastal Investment Advisors Inc. boosted its stake in shares of Iovance Biotherapeutics by 2.9% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 29,390 shares of the biotechnology company’s stock worth $534,000 after buying an additional 815 shares during the last quarter. Strs Ohio raised its holdings in Iovance Biotherapeutics by 0.7% in the 3rd quarter. Strs Ohio now owns 127,800 shares of the biotechnology company’s stock worth $2,325,000 after purchasing an additional 900 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Iovance Biotherapeutics by 14.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,700 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 1,000 shares during the period. Tower Research Capital LLC TRC purchased a new position in Iovance Biotherapeutics during the second quarter valued at $29,000. Finally, Tocqueville Asset Management L.P. lifted its position in Iovance Biotherapeutics by 1.2% during the third quarter. Tocqueville Asset Management L.P. now owns 128,605 shares of the biotechnology company’s stock valued at $2,341,000 after purchasing an additional 1,550 shares in the last quarter. 98.10% of the stock is currently owned by hedge funds and other institutional investors.

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 lifileucel, 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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