Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low - What's Next?

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird lowered their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. HC Wainwright reiterated a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Piper Sandler decreased their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Iovance Biotherapeutics Stock Performance

The stock has a market cap of $1.14 billion, a PE ratio of -2.34 and a beta of 0.93. The business has a 50 day moving average price of $5.03 and a two-hundred day moving average price of $7.66.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly 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 company had revenue of $73.69 million during the quarter, compared to analyst estimates 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 anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently bought and sold shares of the company. AlphaQuest LLC raised its stake in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after buying an additional 1,794 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Iovance Biotherapeutics by 10.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company's stock worth $158,000 after acquiring an additional 1,950 shares during the last quarter. Baird Financial Group Inc. raised its stake in Iovance Biotherapeutics by 1.0% in the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company's stock valued at $1,449,000 after acquiring an additional 2,000 shares during the period. Algert Global LLC lifted its holdings in Iovance Biotherapeutics by 4.3% during the fourth quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company's stock valued at $417,000 after purchasing an additional 2,330 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Iovance Biotherapeutics by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company's stock worth $586,000 after purchasing an additional 2,951 shares during the period. 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.