Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 12-Month Low – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Trading Down 1.8 %

The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.88 and a beta of 0.57. The stock has a 50-day simple moving average of $8.76 and a 200-day simple moving average of $9.25.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The company had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same quarter in the previous year, the firm earned ($0.46) EPS. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Quest Partners LLC boosted its stake in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Iovance Biotherapeutics during the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. grew its holdings in Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock worth $71,000 after buying an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Iovance Biotherapeutics in the 3rd quarter valued at approximately $89,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 2,624 shares in the last quarter. Institutional investors and hedge funds 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.