Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $11.00 by Analysts at Piper Sandler

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its price target lowered by Piper Sandler from $13.00 to $11.00 in a research report sent to investors on Sunday, The Fly reports.

Other research analysts have also recently issued reports about the stock. Oppenheimer dropped their price objective on shares of Iovance Biotherapeutics from $27.00 to $25.00 in a research note on Friday. Truist Financial dropped their price objective on shares of Iovance Biotherapeutics to $18.00 in a research note on Tuesday, August 23rd. Wells Fargo & Company reissued an equal weight rating and set a $14.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, August 18th. Guggenheim began coverage on shares of Iovance Biotherapeutics in a research note on Monday, October 31st. They set a neutral rating for the company. Finally, HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $43.00 to $38.00 and set a buy rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $22.80.

Iovance Biotherapeutics Price Performance

Shares of IOVA opened at $6.62 on Friday. The firm has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $10.67. Iovance Biotherapeutics has a 1-year low of $5.42 and a 1-year high of $20.60. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -2.68 and a beta of 0.50.

Hedge Funds Weigh In On Iovance Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Herold Advisors Inc. purchased a new stake in Iovance Biotherapeutics during the 1st quarter worth $33,000. Lazard Asset Management LLC increased its stake in Iovance Biotherapeutics by 38.5% during 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 stake in Iovance Biotherapeutics by 85.1% during 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. MetLife Investment Management LLC purchased a new stake in Iovance Biotherapeutics during the 1st quarter worth $83,000. Finally, Royal Bank of Canada increased its stake in Iovance Biotherapeutics by 54.5% during the 3rd quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,787 shares during the period.

About Iovance Biotherapeutics

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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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Analyst Recommendations for Iovance Biotherapeutics (NASDAQ:IOVA)

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