HC Wainwright Cuts Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $20.00

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its target price cut by research analysts at HC Wainwright from $32.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler decreased their price objective 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. Barclays cut their price target on Iovance Biotherapeutics from $22.00 to $5.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Chardan Capital dropped their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial decreased their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $14.80.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock traded down $0.09 during mid-day trading on Friday, reaching $1.70. The stock had a trading volume of 11,267,842 shares, compared to its average volume of 8,395,703. Iovance Biotherapeutics has a one year low of $1.65 and a one year high of $12.51. The company has a market capitalization of $566.85 million, a price-to-earnings ratio of -1.14 and a beta of 1.06. The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $5.98.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The company had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Iovance Biotherapeutics's revenue for the quarter was up 6795.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) earnings per share. On average, equities research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of IOVA. SG Americas Securities LLC bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $515,000. Jennison Associates LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $493,000. Barclays PLC boosted its stake in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after buying an additional 328,284 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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 purchasing an additional 1,496,941 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its holdings in shares of Iovance Biotherapeutics by 17.0% in the 4th quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company's stock valued at $2,787,000 after purchasing an additional 54,832 shares during the period. 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.