Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 12-Month Low – Should You Sell?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) reached a new 52-week low during 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IOVA. Robert W. Baird cut their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Truist Financial lowered their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Chardan Capital cut their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Stock Performance

The company has a 50 day moving average of $4.61 and a 200 day moving average of $7.31. The stock has a market capitalization of $983.63 million, a price-to-earnings ratio of -2.01 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates 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%. On average, equities analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IOVA. AlphaQuest LLC lifted its position in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter worth $36,000. GF Fund Management CO. LTD. acquired a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at about $47,000. One68 Global Capital LLC purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at about $74,000. Finally, Quarry LP purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.