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

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Chardan Capital dropped their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Truist Financial dropped their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Piper Sandler dropped their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Finally, Robert W. Baird dropped their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Iovance Biotherapeutics Stock Performance

The company has a market capitalization of $1.18 billion, a PE ratio of -2.41 and a beta of 0.93. The company’s 50-day simple moving average is $5.55 and its 200-day simple moving average is $8.12.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IOVA. 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 acquiring an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $47,000. One68 Global Capital LLC acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Finally, Quarry LP acquired a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $74,000. 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.