40times are less important now that they can track how fast players are actually running during games. Per AI Loveland clocked at 21.25 max speed which is not slow.
Reports indicate Loveland is more quick than top end speed fast, he can run the entire route tree which is huge for a rookie, he has a great catch radious - bottom line he is a big body with a big catch radious that will be open a lot - even if he is not going to outrun DBs hes going to be a chain mover and if they target him can be a volume catcher as a rookie who can help open up the rest of the offense. He is going to hit the ground running as a slot receiver and hopefully get stonger over time to be a complete tight end.