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

by · The Cerbat Gem

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.05 and last traded at $3.07, with a volume of 1131085 shares changing hands. The stock had previously closed at $3.25.

Analysts Set New Price Targets

IOVA has been the topic of several research reports. Piper Sandler lowered their price target 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. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. The Goldman Sachs Group dropped their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird decreased their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, Chardan Capital cut their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Check Out Our Latest Analysis on Iovance Biotherapeutics

Iovance Biotherapeutics Stock Down 5.7 %

The stock has a market capitalization of $1.00 billion, a P/E ratio of -2.09 and a beta of 1.05. The company has a 50 day moving average of $4.68 and a 200-day moving average of $7.38.

Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. Equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Iovance Biotherapeutics in the fourth quarter worth $515,000. Jennison Associates LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at about $493,000. Barclays PLC boosted its stake in Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 328,284 shares during the period. Principal Financial Group Inc. boosted its stake in Iovance Biotherapeutics by 59.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock valued at $37,872,000 after purchasing an additional 1,496,941 shares during the period. Finally, Banque Pictet & Cie SA grew its position in Iovance Biotherapeutics by 17.0% in the 4th quarter. Banque Pictet & Cie SA now owns 376,591 shares of the biotechnology company’s stock worth $2,787,000 after purchasing an additional 54,832 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

(Get Free Report)

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.

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