Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low - Should You Sell?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $3.05 and last traded at $3.07, with a volume of 1131085 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

IOVA has been the subject of several recent research reports. Chardan Capital dropped their target price on shares of 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 lowered their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Truist Financial cut their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Piper Sandler cut their target price on 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, HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note 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 given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Iovance Biotherapeutics Trading Up 15.1 %

The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $7.16. The company has a market capitalization of $1.08 billion, a P/E ratio of -2.19 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of IOVA. FMR LLC grew its holdings in Iovance Biotherapeutics by 79.2% in the third quarter. FMR LLC now owns 82,662 shares of the biotechnology company's stock worth $776,000 after purchasing an additional 36,526 shares during the period. Captrust Financial Advisors increased its holdings in shares of Iovance Biotherapeutics by 95.0% during the third quarter. Captrust Financial Advisors now owns 49,606 shares of the biotechnology company's stock valued at $466,000 after acquiring an additional 24,171 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Iovance Biotherapeutics in the 3rd quarter worth $222,000. Centiva Capital LP bought a new stake in Iovance Biotherapeutics during the 3rd quarter valued at $156,000. Finally, Stifel Financial Corp lifted its stake in shares of Iovance Biotherapeutics by 35.8% in the third quarter. Stifel Financial Corp now owns 223,107 shares of the biotechnology company's stock valued at $2,095,000 after buying an additional 58,787 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

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.