Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $6.00 at Piper Sandler

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective cut by analysts at Piper Sandler from $7.50 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 14.07% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.86.

Iovance Biotherapeutics Stock Down 1.7 %

Shares of Iovance Biotherapeutics stock opened at $5.26 on Friday. Iovance Biotherapeutics has a fifty-two week low of $5.05 and a fifty-two week high of $18.33. The business’s fifty day moving average is $6.27 and its two-hundred day moving average is $8.62. The firm has a market cap of $1.60 billion, a PE ratio of -3.53 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share 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%. Equities research analysts anticipate that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in IOVA. Creative Planning increased its stake in Iovance Biotherapeutics by 2.6% during the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after buying an additional 1,896 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 2,624 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Iovance Biotherapeutics by 2.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock worth $15,767,000 after buying an additional 43,132 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Iovance Biotherapeutics by 59.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 8,090 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Iovance Biotherapeutics by 142.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 9,037 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.