Iovance Biotherapeutics (NASDAQ:IOVA) Given New $17.00 Price Target at Chardan Capital

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective cut by Chardan Capital from $20.00 to $17.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other brokerages also recently weighed in on IOVA. The Goldman Sachs Group downgraded Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Finally, HC Wainwright dropped their price objective on Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.50.

Iovance Biotherapeutics Stock Performance

Iovance Biotherapeutics stock traded down $0.01 during midday trading on Thursday, reaching $2.30. 29,562,186 shares of the company’s stock were exchanged, compared to its average volume of 13,772,763. Iovance Biotherapeutics has a 52 week low of $1.64 and a 52 week high of $10.86. The firm has a market cap of $832.26 million, a price-to-earnings ratio of -1.87 and a beta of 0.87. The stock’s 50-day simple moving average is $2.19 and its 200 day simple moving average is $2.29.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $67.46 million during the quarter, compared to analysts’ expectations of $76.20 million. Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Research analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of IOVA. Wealth Enhancement Advisory Services LLC boosted its holdings in Iovance Biotherapeutics by 46.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,451 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 8,713 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Iovance Biotherapeutics by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 5,237 shares during the period. Principal Financial Group Inc. grew its position in Iovance Biotherapeutics by 28.7% during the first quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company’s stock worth $15,631,000 after buying an additional 1,047,335 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Iovance Biotherapeutics by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company’s stock worth $3,058,000 after acquiring an additional 52,376 shares during the last quarter. Finally, Gould Asset Management LLC CA purchased a new stake in shares of Iovance Biotherapeutics in the 1st quarter valued at about $39,000. Institutional investors 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.