Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $15.00 at Truist Financial

Iovance Biotherapeutics (NASDAQ:IOVA - Free Report) had its price target trimmed by Truist Financial from $25.00 to $15.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company's stock.

IOVA has been the topic of several other research reports. 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. Piper Sandler dropped their price objective 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. 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 report on Friday, February 28th. Chardan Capital lowered their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday. Finally, The Goldman Sachs Group cut 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

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Iovance Biotherapeutics Trading Down 7.4 %

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's 50-day moving average is $6.00 and its 200-day moving average is $8.43. Iovance Biotherapeutics has a 1 year low of $3.62 and a 1 year high of $17.55. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.52 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) 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 the consensus estimate of $72.17 million. As a group, equities research analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 valued at $203,754,000 after purchasing an additional 220,373 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 last quarter. Hood River Capital Management LLC grew its position in Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock worth $66,538,000 after acquiring an additional 846,936 shares in the last quarter. Geode Capital Management LLC increased its stake 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 acquiring an additional 222,425 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its position in Iovance Biotherapeutics by 13.2% during 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 owned by institutional investors.

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.