Iovance Biotherapeutics (NASDAQ:IOVA) Given New $21.00 Price Target at JMP Securities

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its price target decreased by JMP Securities from $25.00 to $21.00 in a research note released on Monday, The Fly reports. JMP Securities currently has a market outperform rating on the biotechnology company’s stock.

Several other analysts have also commented on IOVA. Guggenheim assumed coverage on shares of Iovance Biotherapeutics in a research report on Monday, October 31st. They issued a neutral rating on the stock. Oppenheimer lowered their price objective on shares of Iovance Biotherapeutics from $27.00 to $25.00 in a research report on Friday, November 18th. Robert W. Baird lowered their price objective 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, August 5th. Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $13.00 to $11.00 and set a neutral rating on the stock in a research report on Sunday, November 20th. Finally, Truist Financial lowered their price objective on shares of Iovance Biotherapeutics to $18.00 in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $22.40.

Iovance Biotherapeutics Price Performance

IOVA opened at $6.22 on Monday. The company’s 50-day moving average is $8.93 and its 200 day moving average is $10.50. Iovance Biotherapeutics has a fifty-two week low of $5.42 and a fifty-two week high of $20.60. The firm has a market capitalization of $981.76 million, a P/E ratio of -2.52 and a beta of 0.50.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several large investors have recently modified their holdings of IOVA. State of New Jersey Common Pension Fund D grew its stake in Iovance Biotherapeutics by 9.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 162,939 shares of the biotechnology company’s stock valued at $2,713,000 after acquiring an additional 13,782 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Iovance Biotherapeutics by 17.6% during the first quarter. Envestnet Asset Management Inc. now owns 14,017 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 2,099 shares in the last quarter. Banque Pictet & Cie SA grew its stake in Iovance Biotherapeutics by 0.3% during the first quarter. Banque Pictet & Cie SA now owns 535,770 shares of the biotechnology company’s stock valued at $8,921,000 after acquiring an additional 1,734 shares in the last quarter. Pictet & Cie Europe SA grew its stake in Iovance Biotherapeutics by 11.6% during the first quarter. Pictet & Cie Europe SA now owns 27,882 shares of the biotechnology company’s stock valued at $464,000 after acquiring an additional 2,893 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its stake in Iovance Biotherapeutics by 71.8% during the first quarter. Rice Hall James & Associates LLC now owns 1,085,121 shares of the biotechnology company’s stock valued at $18,067,000 after acquiring an additional 453,337 shares in the last quarter.

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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