Iovance Biotherapeutics (NASDAQ:IOVA) Price Target Cut to $21.00

Iovance Biotherapeutics (NASDAQ:IOVAGet Rating) had its price target decreased by equities researchers at JMP Securities from $25.00 to $21.00 in a report released on Monday, The Fly reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 234.39% from the stock’s previous close.

Several other research analysts also recently commented on IOVA. StockNews.com started coverage on shares of Iovance Biotherapeutics in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Truist Financial dropped their target price on shares of Iovance Biotherapeutics to $18.00 in a report on Tuesday, August 23rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 target price on shares of Iovance Biotherapeutics in a report on Thursday, August 18th. Piper Sandler dropped their price objective on shares of Iovance Biotherapeutics from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Sunday. Finally, HC Wainwright dropped their price objective on shares of Iovance Biotherapeutics from $43.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Iovance Biotherapeutics Trading Down 3.2 %

Iovance Biotherapeutics stock opened at $6.28 on Monday. The company has a market capitalization of $991.24 million, a P/E ratio of -2.54 and a beta of 0.50. Iovance Biotherapeutics has a 1-year low of $5.42 and a 1-year high of $20.60. The firm’s fifty day simple moving average is $9.14 and its 200-day simple moving average is $10.56.

Hedge Funds Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its position in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Teacher Retirement System of Texas now owns 25,809 shares of the biotechnology company’s stock worth $430,000 after purchasing an additional 2,182 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Iovance Biotherapeutics by 6.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,007 shares of the biotechnology company’s stock worth $267,000 after buying an additional 909 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Iovance Biotherapeutics by 72.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,020 shares of the biotechnology company’s stock worth $928,000 after buying an additional 35,303 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Iovance Biotherapeutics by 17.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,799,642 shares of the biotechnology company’s stock worth $30,908,000 after buying an additional 421,306 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Iovance Biotherapeutics by 9.2% during the first quarter. State of New Jersey Common Pension Fund D now owns 162,939 shares of the biotechnology company’s stock worth $2,713,000 after buying an additional 13,782 shares during the last quarter.

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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