Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Lowered to $16.00 at The Goldman Sachs Group

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective trimmed by The Goldman Sachs Group from $18.00 to $16.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. 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. Chardan Capital lowered their price target on Iovance Biotherapeutics from $34.00 to $30.00 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, Piper Sandler lowered their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $3.06 on Thursday. Iovance Biotherapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $14.23. The firm has a fifty day moving average price of $4.00 and a two-hundred day moving average price of $6.85. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -2.05 and a beta of 1.05.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC increased its position 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 worth $34,000 after purchasing an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $36,000. GF Fund Management CO. LTD. bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $47,000. One68 Global Capital LLC acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Finally, Quarry LP bought a new stake in Iovance Biotherapeutics during the 4th quarter worth approximately $74,000. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Company Profile

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.