The Goldman Sachs Group Has Lowered Expectations for Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective lowered by The Goldman Sachs Group from $18.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 423.73% from the company’s previous close.

A number of other equities analysts have also issued reports on IOVA. Piper Sandler dropped their target price 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, February 28th. Truist Financial reduced their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Barclays decreased their price target on Iovance Biotherapeutics from $22.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Finally, Chardan Capital decreased their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.22.

Iovance Biotherapeutics Trading Down 0.5 %

IOVA stock opened at $3.06 on Thursday. The firm has a market cap of $1.00 billion, a PE ratio of -2.05 and a beta of 1.05. The company has a fifty day simple moving average of $3.95 and a 200 day simple moving average of $6.81. Iovance Biotherapeutics has a 1 year low of $2.70 and a 1 year high of $14.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share 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%. As a group, analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in shares of Iovance Biotherapeutics by 63.6% in the fourth 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 stake in Iovance Biotherapeutics in the 4th quarter valued at $36,000. FNY Investment Advisers LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth about $39,000. GF Fund Management CO. LTD. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter worth about $47,000. Finally, One68 Global Capital LLC bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at about $74,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.