Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $20.00 by Analysts at HC Wainwright

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target cut by HC Wainwright from $32.00 to $20.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the company. Chardan Capital decreased their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Piper Sandler reduced their price target on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Truist Financial dropped their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Barclays reduced their target price on shares of Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

Iovance Biotherapeutics Trading Down 44.8%

Shares of NASDAQ:IOVA opened at $1.75 on Friday. The company has a market cap of $584.38 million, a PE ratio of -1.17 and a beta of 1.06. The company’s 50 day moving average is $3.36 and its 200 day moving average is $6.07. Iovance Biotherapeutics has a twelve month low of $1.65 and a twelve month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The firm had revenue of $49.32 million during the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business’s revenue for the quarter was up 6795.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Equities research analysts predict that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its holdings in shares of Iovance Biotherapeutics by 97.6% during the first quarter. Chicago Partners Investment Group LLC now owns 40,626 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 20,067 shares during the period. CM Management LLC increased its stake in shares of Iovance Biotherapeutics by 66.7% during the 1st quarter. CM Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $1,665,000 after acquiring an additional 200,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Iovance Biotherapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock valued at $92,500,000 after buying an additional 243,438 shares during the period. Raiffeisen Bank International AG increased its position in Iovance Biotherapeutics by 44.1% during the 1st quarter. Raiffeisen Bank International AG now owns 147,000 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 45,000 shares in the last quarter. Finally, US Bancorp DE grew its stake in Iovance Biotherapeutics by 266.4% during the first quarter. US Bancorp DE now owns 45,795 shares of the biotechnology company’s stock worth $152,000 after buying an additional 33,298 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.