Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 12-Month Low - Time to Sell?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $3.58 and last traded at $3.61, with a volume of 4820141 shares trading hands. The stock had previously closed at $3.82.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IOVA shares. The Goldman Sachs Group reduced their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Truist Financial reduced their target price on Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Robert W. Baird reduced their target price on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, Piper Sandler reduced their target price 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.25.

Iovance Biotherapeutics Trading Down 8.2 %

The stock has a market capitalization of $1.15 billion, a PE ratio of -2.35 and a beta of 0.93. The stock has a 50 day moving average price of $5.64 and a 200-day moving average price of $8.16.

Remove Ads

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. Research analysts forecast 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 and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Iovance Biotherapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,534,340 shares of the biotechnology company's stock valued at $203,754,000 after purchasing an additional 220,373 shares in the last quarter. State Street Corp lifted its position in shares of Iovance Biotherapeutics by 4.6% in the third quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company's stock valued at $123,967,000 after acquiring an additional 576,801 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 10.4% in the fourth quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock valued at $66,538,000 after acquiring an additional 846,936 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company's stock valued at $43,458,000 after acquiring an additional 222,425 shares in the last quarter. Finally, Long Focus Capital Management LLC lifted its position in shares of Iovance Biotherapeutics by 13.2% in the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company's stock valued at $37,977,000 after acquiring an additional 600,000 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.