Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 1-Year Low - Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.77 and last traded at $5.78, with a volume of 16742751 shares trading hands. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

Several research firms recently commented on IOVA. HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group began coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $17.00 price objective for the company. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Iovance Biotherapeutics Stock Down 2.5 %

The business has a 50-day moving average price of $8.04 and a two-hundred day moving average price of $9.15. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.87 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm 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 quarter in the prior year, the company posted ($0.46) earnings per share. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Insider Activity at Iovance Biotherapeutics

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 sale, 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 filing with the SEC, which can be accessed through the SEC website. 12.10% of the stock is owned by insiders.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in IOVA. Arkadios Wealth Advisors purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $150,000. Assenagon Asset Management S.A. purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $12,927,000. Principal Financial Group Inc. lifted its holdings in Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock worth $37,872,000 after acquiring an additional 1,496,941 shares during the period. Franklin Resources Inc. grew its stake in Iovance Biotherapeutics by 9.2% in the 3rd quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company's stock valued at $979,000 after purchasing an additional 8,470 shares during the period. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics during the 3rd quarter valued at $188,000. 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.