Why Iovance Biotherapeutics Tumbled by Nearly 6% Today
Iovance Biotherapeutics (IOVA -5.68%) didn't quite end the stock trading week on a high note. The company's shares were dinged by almost 6% that day, due largely to an analyst's recommendation downgrade. This occurred on a generally positive day for equities, as the S&P 500 index managed to land in the black with a 0.7% rise.A bearish adjustmentWell before market open, UBS pundit David Dai flipped the switch on his Iovance recommendation, changing it to neutral from his previous buy. Compounding that signif ...