Barclays Has Lowered Expectations for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its price target decreased by equities research analysts at Barclays from $22.00 to $5.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Barclays's target price would indicate a potential upside of 63.67% from the company's current price.

Several other research firms have also recently weighed in on IOVA. Chardan Capital reduced their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Robert W. Baird reduced their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group dropped their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Truist Financial reduced their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $18.22.

Iovance Biotherapeutics Stock Performance

IOVA traded down $0.02 during midday trading on Monday, reaching $3.06. 9,645,501 shares of the company were exchanged, compared to its average volume of 7,466,827. The stock has a market capitalization of $1.00 billion, a P/E ratio of -2.05 and a beta of 1.05. The stock's 50-day simple moving average is $3.95 and its 200 day simple moving average is $6.78. Iovance Biotherapeutics has a one year low of $2.70 and a one year high of $14.23.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IOVA. FMR LLC increased its holdings in shares of Iovance Biotherapeutics by 79.2% in the third quarter. FMR LLC now owns 82,662 shares of the biotechnology company's stock valued at $776,000 after purchasing an additional 36,526 shares during the last quarter. Verition Fund Management LLC bought a new position in Iovance Biotherapeutics in the 3rd quarter valued at about $222,000. Stifel Financial Corp lifted its position in Iovance Biotherapeutics by 35.8% during the third quarter. Stifel Financial Corp now owns 223,107 shares of the biotechnology company's stock worth $2,095,000 after acquiring an additional 58,787 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Iovance Biotherapeutics by 10.3% during the third quarter. Wellington Management Group LLP now owns 129,482 shares of the biotechnology company's stock worth $1,216,000 after acquiring an additional 12,064 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Iovance Biotherapeutics by 118.8% during the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company's stock worth $5,677,000 after acquiring an additional 328,284 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

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.