Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 12-Month Low on Analyst Downgrade

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low on Monday after Piper Sandler lowered their price target on the stock from $10.00 to $7.50. Piper Sandler currently has a neutral rating on the stock. Iovance Biotherapeutics traded as low as $5.52 and last traded at $5.68, with a volume of 734900 shares. The stock had previously closed at $5.85.

IOVA has been the topic of several other reports. UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment 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. Based on data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.69.

Insider Activity

In related news, Director Ryan D. Maynard sold 50,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 7,500 shares of the company's stock, valued at approximately $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently added to or reduced their stakes in the stock. XML Financial LLC boosted its holdings in shares of Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock valued at $136,000 after acquiring an additional 1,000 shares during the period. Saturna Capital Corp boosted its stake in Iovance Biotherapeutics by 7.0% during the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock valued at $193,000 after purchasing an additional 1,353 shares during the period. Exchange Traded Concepts LLC grew its position in Iovance Biotherapeutics by 11.6% in 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. AlphaQuest LLC increased 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 purchasing an additional 1,794 shares during the period. Finally, Creative Planning raised its holdings in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock valued at $690,000 after buying an additional 1,896 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Price Performance

The stock has a fifty day moving average price of $7.13 and a two-hundred day moving average price of $8.93. The company has a market cap of $1.73 billion, a P/E ratio of -3.82 and a beta of 0.54.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period last year, the company earned ($0.46) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

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.