Chardan Capital Cuts Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $30.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its target price trimmed by Chardan Capital from $34.00 to $30.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Robert W. Baird decreased their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Piper Sandler decreased their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $4.05 on Monday. The firm has a market capitalization of $1.23 billion, a PE ratio of -2.72 and a beta of 0.53. The business has a 50-day moving average of $6.07 and a two-hundred day moving average of $8.46. Iovance Biotherapeutics has a 12 month low of $3.62 and a 12 month high of $17.64.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $73.69 million during the quarter, compared to analyst estimates 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, research analysts anticipate that Iovance Biotherapeutics will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AlphaQuest LLC grew its position in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $36,000. GF Fund Management CO. LTD. bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $47,000. One68 Global Capital LLC bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Finally, Quarry LP bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter worth approximately $74,000. Institutional investors and hedge funds 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.