Iovance Biotherapeutics, Inc. (IOVA) stock price plummeted 5.08% in the intraday trading session on Monday. The decline was likely driven by analysts lowering their price targets on the company's stock.
Truist Securities lowered its price target on Iovance Biotherapeutics from $25 to $15, while maintaining a Buy rating on the stock. This followed the company's fourth-quarter results, which prompted analysts to reevaluate their expectations.
Additionally, Chardan Capital Markets reduced its price target on Iovance Biotherapeutics from $34 to $30, although it maintained a Buy rating as well. According to analysts polled by FactSet, the company currently has an average rating of Buy and a mean price target of $20.62.
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