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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.33 and last traded at $3.44, with a volume of 10456614 shares changing hands. The stock had previously closed at $3.48.

Analyst Ratings Changes

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

Iovance Biotherapeutics Price Performance

The company's 50 day simple moving average is $4.84 and its 200 day simple moving average is $7.49. The stock has a market cap of $1.09 billion, a P/E ratio of -2.23 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts' consensus estimates of ($0.26). The business had revenue of $73.69 million during the quarter, compared to analysts' expectations of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. On average, equities research analysts predict 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 modified their holdings of the business. AlphaQuest LLC increased its stake in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock worth $34,000 after purchasing an additional 1,794 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Iovance Biotherapeutics during the fourth quarter worth $47,000. One68 Global Capital LLC bought a new stake in Iovance Biotherapeutics in the 4th quarter valued at $74,000. Finally, Quarry LP acquired a new position in Iovance Biotherapeutics in the 4th quarter worth $74,000. Institutional investors own 77.03% of the company's stock.

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.