Mizuho Lowers Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $10.00

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) had its price objective decreased by investment analysts at Mizuho from $30.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Mizuho's price objective suggests a potential upside of 454.02% from the stock's current price.

A number of other research firms have also commented on IOVA. Truist Financial lowered shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Monday. 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, February 28th. Chardan Capital dropped their price objective on Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday. Robert W. Baird decreased 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 report on Friday, February 28th. Finally, Barclays cut their price target on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.60.

Iovance Biotherapeutics Trading Up 3.1%

IOVA traded up $0.06 on Monday, reaching $1.81. The company had a trading volume of 16,337,288 shares, compared to its average volume of 8,235,162. The company has a fifty day moving average of $3.36 and a 200-day moving average of $6.07. The company has a market capitalization of $602.75 million, a P/E ratio of -1.21 and a beta of 1.06. Iovance Biotherapeutics has a one year low of $1.65 and a one year high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same period in the previous year, the business posted ($0.42) earnings per share. The business's revenue for the quarter was up 6795.1% compared to the same quarter last year. Research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of IOVA. Accredited Investors Inc. bought a new stake in Iovance Biotherapeutics in the first quarter valued at about $33,000. AlphaQuest LLC boosted its stake in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $36,000. FNY Investment Advisers LLC acquired a new position in Iovance Biotherapeutics during the first quarter valued at approximately $39,000. Finally, Gould Asset Management LLC CA acquired a new stake in Iovance Biotherapeutics in the first quarter worth $39,000. 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.

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