Chardan Capital Issues Pessimistic Forecast for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective reduced by investment analysts at Chardan Capital from $20.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lowered Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. HC Wainwright cut their price target on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Iovance Biotherapeutics has a consensus rating of “Hold” and a consensus target price of $10.50.

Iovance Biotherapeutics Trading Down 0.4%

Shares of IOVA stock opened at $2.30 on Thursday. The firm has a fifty day simple moving average of $2.19 and a 200-day simple moving average of $2.29. The company has a market capitalization of $832.26 million, a PE ratio of -1.92 and a beta of 0.87. Iovance Biotherapeutics has a twelve month low of $1.64 and a twelve month high of $10.86.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 54.80%. The firm had revenue of $67.46 million for the quarter, compared to the consensus estimate of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Equities research analysts predict that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of IOVA. Vanguard Group Inc. increased its position in Iovance Biotherapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock worth $92,500,000 after buying an additional 243,438 shares during the period. Long Focus Capital Management LLC boosted its holdings in shares of Iovance Biotherapeutics by 80.2% during the first quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after acquiring an additional 4,118,055 shares during the period. Geode Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 3.7% during the second quarter. Geode Capital Management LLC now owns 6,189,058 shares of the biotechnology company’s stock worth $10,646,000 after acquiring an additional 220,760 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after acquiring an additional 1,301,846 shares during the period. Institutional investors own 77.03% of the company’s stock.

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.