Iovance Biotherapeutics (NASDAQ:IOVA) Given New $30.00 Price Target at Chardan Capital

Iovance Biotherapeutics (NASDAQ:IOVA) had its price target reduced by Chardan Capital from $34.00 to $30.00 in a report published on Monday,Benzinga reports. Chardan Capital currently has a buy rating on the biotechnology company’s stock.

A number of other analysts have also recently commented on IOVA. Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday. Finally, Piper Sandler cut their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday. 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’s stock. According to MarketBeat.com, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Trading Down 4.7 %

Shares of IOVA stock opened at $4.04 on Monday. The stock has a 50 day moving average of $6.21 and a 200 day moving average of $8.55. The stock has a market cap of $1.23 billion, a P/E ratio of -2.71 and a beta of 0.53. Iovance Biotherapeutics has a twelve month low of $3.62 and a twelve month high of $18.24.

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

Hedge Funds Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company’s stock valued at $203,754,000 after buying an additional 220,373 shares during the period. State Street Corp increased its holdings in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after purchasing an additional 576,801 shares during the period. Hood River Capital Management LLC increased its holdings in Iovance Biotherapeutics by 10.4% during the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company’s stock worth $66,538,000 after purchasing an additional 846,936 shares during the period. Geode Capital Management LLC increased its holdings in Iovance Biotherapeutics by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company’s stock worth $43,458,000 after purchasing an additional 222,425 shares during the period. Finally, Long Focus Capital Management LLC increased its holdings in Iovance Biotherapeutics by 13.2% during the 4th quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company’s stock worth $37,977,000 after purchasing an additional 600,000 shares during the period. Institutional investors and hedge funds 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.