Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 12-Month Low - What's Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.57 and last traded at $5.73, with a volume of 3135126 shares trading hands. The stock had previously closed at $5.91.

Analyst Ratings Changes

IOVA has been the topic of several analyst reports. UBS Group assumed coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Iovance Biotherapeutics Trading Up 3.3 %

The business has a 50-day moving average price of $7.71 and a 200-day moving average price of $9.11. The stock has a market cap of $1.89 billion, a PE ratio of -4.15 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. The business had revenue of $58.56 million for 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 period last year, the firm posted ($0.46) earnings per share. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value 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 position. 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 insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the business. XML Financial LLC boosted its position in Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock worth $136,000 after acquiring an additional 1,000 shares during the last quarter. Saturna Capital Corp lifted its stake in Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,353 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company's stock worth $160,000 after purchasing an additional 1,776 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Iovance Biotherapeutics by 13.0% during the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company's stock worth $131,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Creative Planning grew its position in shares of Iovance Biotherapeutics by 2.6% in the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock valued at $690,000 after purchasing an additional 1,896 shares in the last quarter. Hedge funds and other 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.

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