Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $30.00 by Analysts at Chardan Capital

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its target price lowered by Chardan Capital from $31.00 to $30.00 in a research note published on Friday morning, The Fly reports.

Several other research analysts have also issued reports on the stock. JMP Securities reaffirmed a buy rating and issued a $25.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, June 8th. Truist Financial reduced their target price on shares of Iovance Biotherapeutics to $20.00 in a research note on Friday, May 27th. Robert W. Baird cut their price target on shares of Iovance Biotherapeutics from $34.00 to $25.00 and set an outperform rating on the stock in a research report on Friday. Piper Sandler cut their price target on shares of Iovance Biotherapeutics from $20.00 to $13.00 and set a neutral rating on the stock in a research report on Friday, May 27th. Finally, Oppenheimer cut their price target on shares of Iovance Biotherapeutics from $31.00 to $27.00 and set an outperform rating on the stock in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $25.10.

Iovance Biotherapeutics Stock Down 2.9 %

Shares of NASDAQ:IOVA opened at $12.18 on Friday. Iovance Biotherapeutics has a 12 month low of $6.18 and a 12 month high of $27.96. The company’s 50-day moving average price is $10.47 and its two-hundred day moving average price is $13.71. The firm has a market cap of $1.91 billion, a P/E ratio of -5.10 and a beta of 0.47.

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the company earned ($0.53) EPS. As a group, equities analysts predict that Iovance Biotherapeutics will post -2.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak acquired 10,000 shares of the stock in a transaction dated Tuesday, May 31st. The shares were bought at an average cost of $6.84 per share, for a total transaction of $68,400.00. Following the completion of the acquisition, the director now directly owns 20,150 shares of the company’s stock, valued at $137,826. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Nova Scotia lifted its position in Iovance Biotherapeutics by 3.0% during the 2nd quarter. Bank of Nova Scotia now owns 1,027,471 shares of the biotechnology company’s stock worth $11,343,000 after buying an additional 29,471 shares in the last quarter. Mirador Capital Partners LP lifted its position in Iovance Biotherapeutics by 50.1% during the 2nd quarter. Mirador Capital Partners LP now owns 64,690 shares of the biotechnology company’s stock worth $714,000 after buying an additional 21,585 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Iovance Biotherapeutics during the 2nd quarter worth about $127,000. Nikko Asset Management Americas Inc. lifted its position in Iovance Biotherapeutics by 17.7% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,799,642 shares of the biotechnology company’s stock worth $29,704,000 after buying an additional 421,306 shares in the last quarter. Finally, Seven Eight Capital LP lifted its position in Iovance Biotherapeutics by 418.9% during the 2nd quarter. Seven Eight Capital LP now owns 105,780 shares of the biotechnology company’s stock worth $1,168,000 after buying an additional 85,394 shares in the last quarter. 99.07% of the stock is owned by institutional investors.

Iovance Biotherapeutics Company Profile

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Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. It has six ongoing phase 2 clinical studies, including C-144-01, of its lead product candidate, lifileucel, for the treatment of metastatic melanoma; C-145-04, of its product candidate lifileucel for recurrent, metastatic, or persistent cervical cancer; and C-145-03, of its product candidate LN-145, for recurrent and/or metastatic head and neck squamous cell carcinoma.

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