Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 52-Week Low – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $7.05 and last traded at $7.05, with a volume of 3203302 shares changing hands. The stock had previously closed at $7.40.

Analyst Ratings Changes

A number of analysts have recently weighed in on IOVA shares. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Trading Down 1.8 %

The stock has a 50-day moving average of $8.76 and a two-hundred day moving average of $9.25. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -4.88 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period last year, the company posted ($0.46) earnings per share. Sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC increased its stake in Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 754.0% during the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Iovance Biotherapeutics during the third quarter valued at $89,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 2,624 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics

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.