Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $30.00 by Analysts at Chardan Capital

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its target price decreased by investment analysts at Chardan Capital from $34.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock.

Several other research firms have also recently weighed in on IOVA. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Finally, Robert W. Baird reduced their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of "Moderate Buy" and an average target price of $20.25.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA traded down $0.30 during trading hours on Monday, hitting $3.75. The company's stock had a trading volume of 9,831,663 shares, compared to its average volume of 10,129,712. Iovance Biotherapeutics has a twelve month low of $3.62 and a twelve month high of $17.55. The stock has a fifty day simple moving average of $6.00 and a 200-day simple moving average of $8.43. The company has a market capitalization of $1.14 billion, a P/E ratio of -2.52 and a beta of 0.53.

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Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. On average, equities analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in IOVA. AlphaQuest LLC boosted its holdings in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after buying an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $36,000. GF Fund Management CO. LTD. bought a new position in Iovance Biotherapeutics during the fourth quarter worth $47,000. One68 Global Capital LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth $74,000. Finally, Quarry LP acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth $74,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Iovance Biotherapeutics Company Profile

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.