Iovance Biotherapeutics (NASDAQ:IOVA) Hits 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 mid-day trading on Friday . The company traded as low as $3.58 and last traded at $3.61, with a volume of 4115659 shares trading hands. The stock had previously closed at $3.75.

Analyst Ratings Changes

A number of equities analysts recently commented on IOVA shares. The Goldman Sachs Group lowered their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Truist Financial lowered their target price on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Chardan Capital cut their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Robert W. Baird reduced their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Finally, Piper Sandler dropped 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.25.

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Iovance Biotherapeutics Stock Performance

The stock has a fifty day simple moving average of $5.85 and a two-hundred day simple moving average of $8.30. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -2.55 and a beta of 0.93.

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 analysts' consensus estimates of ($0.26). The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Equities analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IOVA. Farther Finance Advisors LLC increased its position in Iovance Biotherapeutics by 142.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company's stock valued at $145,000 after acquiring an additional 9,037 shares during the period. Principal Financial Group Inc. increased its holdings in Iovance Biotherapeutics by 59.0% in the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after purchasing an additional 1,496,941 shares during the period. Assetmark Inc. raised its position in Iovance Biotherapeutics by 48.0% during the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company's stock worth $121,000 after purchasing an additional 4,167 shares during the last quarter. XML Financial LLC lifted its holdings in Iovance Biotherapeutics by 7.4% during the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock worth $136,000 after buying an additional 1,000 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 156.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 61,759 shares of the biotechnology company's stock worth $580,000 after buying an additional 37,635 shares during the period. 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.