Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 1-Year Low – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) reached a new 52-week low on Friday . The company traded as low as $3.42 and last traded at $3.46, with a volume of 1328744 shares trading hands. The stock had previously closed at $3.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. 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. 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 note on Monday, March 3rd. Piper Sandler reduced 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 note on Friday, February 28th. Finally, Truist Financial dropped their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

The firm’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $7.77. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.38 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last released 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 during the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. As a group, research analysts expect 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 have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in Iovance Biotherapeutics during the third quarter worth about $242,000. Victory Capital Management Inc. grew its position in shares of Iovance Biotherapeutics by 399.4% during the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after purchasing an additional 115,387 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Iovance Biotherapeutics during the third quarter worth approximately $920,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Iovance Biotherapeutics in the third quarter valued at approximately $615,000. Finally, Algert Global LLC raised its position in shares of Iovance Biotherapeutics by 53.2% in the third quarter. Algert Global LLC now owns 54,070 shares of the biotechnology company’s stock valued at $508,000 after buying an additional 18,784 shares in the last quarter. 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.