Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $15.00 by Analysts at Truist Financial

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price cut by Truist Financial from $25.00 to $15.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price objective on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Robert W. Baird lowered 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. Finally, Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $4.05 on Monday. The company’s 50-day moving average price is $6.07 and its two-hundred day moving average price is $8.46. Iovance Biotherapeutics has a one year low of $3.62 and a one year high of $17.64. The stock has a market capitalization of $1.23 billion, a PE ratio of -2.72 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly 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 net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. On average, analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IOVA. Creative Planning grew its stake in Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 1,896 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 2,624 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Iovance Biotherapeutics by 59.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 8,090 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Iovance Biotherapeutics by 142.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 9,037 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its position in shares of Iovance Biotherapeutics by 42.7% during the 3rd quarter. Beacon Financial Advisory LLC now owns 21,120 shares of the biotechnology company’s stock worth $198,000 after purchasing an additional 6,320 shares in the last quarter. 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.