Iovance Biotherapeutics (NASDAQ:IOVA) Given New $19.00 Price Target at The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) had its price objective reduced by The Goldman Sachs Group from $22.00 to $19.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company's stock.

Several other research firms have also recently issued reports on IOVA. HC Wainwright reiterated a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Robert W. Baird decreased their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. 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 research report on Friday, February 28th. Finally, Chardan Capital cut their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.25.

Iovance Biotherapeutics Stock Down 7.4 %

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

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Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arcadia Wealth Management Inc. purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $117,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Iovance Biotherapeutics by 39.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 5,500 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Iovance Biotherapeutics in the 4th quarter valued at approximately $47,000. Neo Ivy Capital Management purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $3,353,000. Finally, Stempoint Capital LP purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $7,026,000. 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.