Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $5.00 at Barclays

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its price objective cut by equities researchers at Barclays from $22.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Barclays's price objective would indicate a potential upside of 63.67% from the stock's current price.

Several other equities research analysts have also recently issued reports on IOVA. Chardan Capital decreased their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Piper Sandler dropped their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. The Goldman Sachs Group dropped their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Truist Financial reduced their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.22.

Iovance Biotherapeutics Stock Down 0.5 %

Shares of IOVA traded down $0.02 on Monday, hitting $3.06. 9,645,501 shares of the stock traded hands, compared to its average volume of 7,466,827. Iovance Biotherapeutics has a 1 year low of $2.70 and a 1 year high of $14.23. The stock's 50 day moving average is $3.95 and its two-hundred day moving average is $6.81. The firm has a market capitalization of $1.00 billion, a P/E ratio of -2.05 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $73.69 million for the quarter, compared to analysts' expectations of $72.17 million. Research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Man Group plc purchased a new stake in Iovance Biotherapeutics during the 4th quarter worth $17,871,000. Assenagon Asset Management S.A. purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $12,927,000. Raymond James Financial Inc. acquired a new stake in Iovance Biotherapeutics during the 4th quarter valued at approximately $11,568,000. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $8,365,000. Hedge funds and other institutional investors 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.