Iovance Biotherapeutics Stock Is Down 15%: What's Going On?
Portfolio Pulse from Henry Khederian
Iovance Biotherapeutics Inc's stock (NASDAQ:IOVA) has fallen by 15.8% to $4.58, despite no company-specific news. The drop may be due to continued weakness following Stifel analyst Benjamin Burnett's decision to maintain a Buy rating but lower the price target from $27 to $25. The company recently presented at the 2023 Wells Fargo Healthcare Conference.
September 14, 2023 | 2:19 pm
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NEGATIVE IMPACT
Iovance Biotherapeutics' stock has fallen by 15.8% possibly due to Stifel analyst's lowered price target.
The stock price of Iovance Biotherapeutics has fallen significantly, despite no company-specific news. This suggests that the market is reacting to external factors, such as the lowered price target by Stifel analyst Benjamin Burnett. The company's recent presentation at the Wells Fargo Healthcare Conference does not seem to have positively impacted the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100