Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low - Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.05 and last traded at $7.16, with a volume of 1018130 shares trading hands. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IOVA. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group assumed coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target 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's stock. According to MarketBeat, Iovance Biotherapeutics presently has an average rating of "Moderate Buy" and an average price target of $23.00.

Iovance Biotherapeutics Price Performance

The stock has a market capitalization of $2.19 billion, a P/E ratio of -4.81 and a beta of 0.55. The company has a 50 day simple moving average of $9.17 and a 200-day simple moving average of $9.28.

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

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were 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 $75,450. This trade represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.10% of the company's stock.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of IOVA. Quest Partners LLC boosted its position in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics in the second quarter worth about $58,000. Daiwa Securities Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Iovance Biotherapeutics during the 3rd quarter valued at approximately $89,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock valued at $105,000 after purchasing an additional 2,624 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other 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.