Iovance Biotherapeutics (NASDAQ:IOVA) PT Lowered to $25.00 at Robert W. Baird

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its price objective lowered by Robert W. Baird from $34.00 to $25.00 in a research note issued to investors on Friday morning, The Fly reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. JMP Securities reaffirmed a buy rating and set a $25.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, June 8th. 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 report on Friday, May 27th. 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 report on Friday, May 27th. Truist Financial cut their price target on shares of Iovance Biotherapeutics to $20.00 in a report on Friday, May 27th. Finally, The Goldman Sachs Group cut their price target on shares of Iovance Biotherapeutics from $64.00 to $18.00 and set a buy rating on the stock in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $25.10.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $12.18 on Friday. The company’s fifty day moving average price is $10.47 and its 200-day moving average price is $13.71. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -5.10 and a beta of 0.47. Iovance Biotherapeutics has a one year low of $6.18 and a one year high of $27.96.

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) last issued its quarterly earnings results 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 research analysts expect that Iovance Biotherapeutics will post -2.49 EPS for the current year.

Insider Transactions at Iovance Biotherapeutics

In other news, Director Merrill A. Mcpeak acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were acquired at an average price of $6.84 per share, for a total transaction of $68,400.00. Following the completion of the transaction, the director now directly owns 20,150 shares of the company’s stock, valued at approximately $137,826. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Herold Advisors Inc. purchased a new stake in shares of Iovance Biotherapeutics during the first quarter valued at about $33,000. Spire Wealth Management acquired a new position in Iovance Biotherapeutics in the 1st quarter worth approximately $47,000. Lazard Asset Management LLC increased its holdings in Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after buying an additional 934 shares during the period. Retirement Group LLC increased its holdings in Iovance Biotherapeutics by 85.1% in the 1st quarter. Retirement Group LLC now owns 4,350 shares of the biotechnology company’s stock worth $72,000 after buying an additional 2,000 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 1,459.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,614 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 6,190 shares during the period. 99.07% of the stock is currently 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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