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

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective decreased by Truist Financial from $25.00 to $15.00 in a report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

IOVA has been the subject of a number of other research reports. Robert W. Baird lowered their target price 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. Piper Sandler lowered their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday. Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Price Performance

Shares of Iovance Biotherapeutics stock opened at $4.05 on Monday. The firm has a market cap of $1.23 billion, a P/E ratio of -2.72 and a beta of 0.53. The firm has a 50 day simple moving average of $6.07 and a 200 day simple moving average of $8.46. Iovance Biotherapeutics has a fifty-two week low of $3.62 and a fifty-two week high of $17.64.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, sell-side analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at $515,000. Jennison Associates LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at $493,000. Barclays PLC lifted its position in 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 acquiring an additional 328,284 shares in the last quarter. Principal Financial Group Inc. lifted its position in Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after acquiring an additional 1,496,941 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $920,000. 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.