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

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective trimmed by Piper Sandler from $7.50 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $4.24 on Friday. The stock has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $8.62. Iovance Biotherapeutics has a 52-week low of $3.62 and a 52-week high of $18.24. The firm has a market capitalization of $1.29 billion, a P/E ratio of -2.85 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (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 firm had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. On average, equities research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC boosted its holdings in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics in the fourth quarter valued at about $36,000. GF Fund Management CO. LTD. bought a new position in Iovance Biotherapeutics in the fourth quarter valued at about $47,000. One68 Global Capital LLC bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Finally, Quarry LP bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.