Chardan Capital Has Lowered Expectations for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective lowered by Chardan Capital from $34.00 to $30.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the company. Robert W. Baird decreased their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday. Finally, Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Iovance Biotherapeutics Stock Down 19.4 %

Shares of Iovance Biotherapeutics stock opened at $4.24 on Monday. Iovance Biotherapeutics has a 12-month low of $3.62 and a 12-month high of $18.24. The firm has a market capitalization of $1.29 billion, a PE ratio of -2.85 and a beta of 0.53. The stock’s fifty day moving average is $6.21 and its 200-day moving average is $8.55.

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

Institutional Trading of Iovance Biotherapeutics

Several large investors have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its holdings 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 valued at $34,000 after purchasing an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Iovance Biotherapeutics in the fourth quarter worth $36,000. GF Fund Management CO. LTD. acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $47,000. One68 Global Capital LLC bought a new position in Iovance Biotherapeutics during the fourth quarter valued at about $74,000. Finally, Quarry LP bought a new position in Iovance Biotherapeutics during the fourth quarter valued at about $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.