Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low - Here's Why

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $7.05 and last traded at $7.05, with a volume of 3203302 shares. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

IOVA has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group started coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target for the company. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Iovance Biotherapeutics Stock Down 3.1 %

The firm has a market capitalization of $2.19 billion, a P/E ratio of -4.81 and a beta of 0.57. The business has a 50-day moving average price of $8.76 and a 200-day moving average price of $9.25.

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

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total value of $503,000.00. Following the completion of the transaction, the director now directly owns 7,500 shares of the company's stock, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its stake in shares of Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 4,629 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $58,000. Daiwa Securities Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 7,781 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Iovance Biotherapeutics in the 3rd quarter valued at about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company's stock worth $105,000 after buying an additional 2,624 shares during the period. Institutional investors and hedge funds 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.