Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $19.00 by Analysts at The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price reduced by The Goldman Sachs Group from $22.00 to $19.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on IOVA. Chardan Capital decreased their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Robert W. Baird decreased their target price 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 set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday. Finally, Piper Sandler cut their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $4.04 on Monday. Iovance Biotherapeutics has a fifty-two week low of $3.62 and a fifty-two week high of $18.24. The business has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $8.55. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -2.71 and a beta of 0.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IOVA. AlphaQuest LLC grew its stake in shares of Iovance Biotherapeutics by 63.6% during the 4th 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 period. SBI Securities Co. Ltd. bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $36,000. GF Fund Management CO. LTD. bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $47,000. One68 Global Capital LLC bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. Finally, Quarry LP bought a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at approximately $74,000. 77.03% of the stock is currently 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.