Robert W. Baird Cuts Iovance Biotherapeutics (NASDAQ:IOVA) Price Target to $20.00

Iovance Biotherapeutics (NASDAQ:IOVA) had its price objective decreased by investment analysts at Robert W. Baird from $24.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 280.23% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Piper Sandler reduced their price objective 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. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Iovance Biotherapeutics Trading Down 1.7 %

Iovance Biotherapeutics stock opened at $5.26 on Friday. The firm has a market cap of $1.60 billion, a P/E ratio of -3.53 and a beta of 0.53. Iovance Biotherapeutics has a 1-year low of $5.05 and a 1-year high of $18.33. The firm has a 50-day moving average of $6.27 and a 200-day moving average of $8.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Research analysts forecast that Iovance Biotherapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC increased its position in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth $36,000. GF Fund Management CO. LTD. bought a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at $47,000. One68 Global Capital LLC purchased a new position in shares of Iovance Biotherapeutics in the 4th quarter worth about $74,000. Finally, Quarry LP bought a new position in Iovance Biotherapeutics in the 4th quarter worth about $74,000. 77.03% of the stock is owned by institutional investors.

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.