Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 52-Week Low – Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $3.58 and last traded at $3.61, with a volume of 4115659 shares changing hands. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IOVA shares. Piper Sandler decreased their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Robert W. Baird decreased their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group cut their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Trading Up 0.4 %

The business has a 50 day moving average of $5.92 and a 200-day moving average of $8.39. The stock has a market cap of $1.15 billion, a PE ratio of -2.53 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly 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 firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Research analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IOVA. Arcadia Wealth Management Inc. purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $117,000. B. Riley Wealth Advisors Inc. increased its position in Iovance Biotherapeutics by 39.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 5,500 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $47,000. Neo Ivy Capital Management acquired a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $3,353,000. Finally, Stempoint Capital LP purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $7,026,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.