Chardan Capital Has Lowered Expectations for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective dropped by stock analysts at Chardan Capital from $30.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

IOVA has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Truist Financial cut their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Citizens Jmp downgraded Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday. Barclays cut their target price on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $16.33.

Iovance Biotherapeutics Stock Down 44.8 %

IOVA opened at $1.75 on Friday. The stock has a market cap of $584.38 million, a P/E ratio of -1.17 and a beta of 1.06. Iovance Biotherapeutics has a 12 month low of $1.65 and a 12 month high of $12.51. The company has a fifty day simple moving average of $3.36 and a 200 day simple moving average of $6.10.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $83.40 million. During the same period in the prior year, the business earned ($0.42) EPS. The company’s revenue for the quarter was up 6795.1% compared to the same quarter last year. On average, equities research analysts expect that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Iovance Biotherapeutics by 118.8% in the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares during the period. Franklin Resources Inc. raised its stake in Iovance Biotherapeutics by 9.2% in the third quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company’s stock valued at $979,000 after buying an additional 8,470 shares during the period. Principal Financial Group Inc. lifted its position in shares of Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after buying an additional 1,496,941 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $12,927,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $150,000. 77.03% of the stock is owned by institutional investors.

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.