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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $3.33 and last traded at $3.44, with a volume of 10456614 shares changing hands. The stock had previously closed at $3.48.

Analyst Ratings Changes

A number of analysts have commented on the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday, February 28th. Truist Financial cut their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Piper Sandler cut their target price on 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 lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group reduced their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note 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. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Trading Down 1.9 %

The stock has a market cap of $1.17 billion, a P/E ratio of -2.39 and a beta of 0.93. The business’s fifty day simple moving average is $4.89 and its 200 day simple moving average is $7.56.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results 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 analyst estimates of $72.17 million. On average, analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in Iovance Biotherapeutics by 7.3% in the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company’s stock worth $1,504,000 after purchasing an additional 13,774 shares during the period. Arcadia Wealth Management Inc. bought a new position in shares of Iovance Biotherapeutics in the 4th quarter valued at about $117,000. B. Riley Wealth Advisors Inc. grew its position in shares of 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 buying an additional 5,500 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $47,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth approximately $3,353,000. 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.