Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 12-Month Low – Time to Sell?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.58 and last traded at $3.61, with a volume of 4820141 shares traded. The stock had previously closed at $3.82.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IOVA shares. Truist Financial reduced their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, The Goldman Sachs Group reduced their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Stock Down 8.2 %

The company has a 50 day simple moving average of $5.64 and a two-hundred day simple moving average of $8.16. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.35 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting 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%. The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. As a group, research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $36,000. GF Fund Management CO. LTD. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $47,000. One68 Global Capital LLC purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $74,000. Finally, Quarry LP purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $74,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.