Robert W. Baird Lowers Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $20.00

Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) had its price target trimmed by Robert W. Baird from $24.00 to $20.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company's stock.

IOVA has been the subject of a number of other reports. HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday. Piper Sandler dropped their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics has an average rating of "Moderate Buy" and an average target price of $20.25.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded down $0.12 during midday trading on Friday, reaching $3.92. The stock had a trading volume of 18,566,777 shares, compared to its average volume of 10,108,283. The stock has a market capitalization of $1.19 billion, a P/E ratio of -2.63 and a beta of 0.53. The firm's fifty day simple moving average is $6.14 and its 200-day simple moving average is $8.50. Iovance Biotherapeutics has a 1-year low of $3.62 and a 1-year high of $17.64.

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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, meeting analysts' consensus estimates 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 the consensus estimate of $72.17 million. On average, sell-side analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Iovance Biotherapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company's stock worth $203,754,000 after buying an additional 220,373 shares during the last quarter. State Street Corp raised its stake in Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock valued at $123,967,000 after acquiring an additional 576,801 shares during the period. Hood River Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock valued at $66,538,000 after purchasing an additional 846,936 shares during the last quarter. Geode Capital Management LLC boosted its position in Iovance Biotherapeutics by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company's stock worth $43,458,000 after purchasing an additional 222,425 shares during the period. Finally, Long Focus Capital Management LLC raised its position in shares of Iovance Biotherapeutics by 13.2% in the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company's stock valued at $37,977,000 after purchasing an additional 600,000 shares during the period. 77.03% of the stock is currently 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.