Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 1-Year Low After Analyst Downgrade

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low during trading on Friday after Truist Financial lowered their price target on the stock from $25.00 to $15.00. Truist Financial currently has a buy rating on the stock. Iovance Biotherapeutics traded as low as $3.75 and last traded at $3.75, with a volume of 11092038 shares trading hands. The stock had previously closed at $5.26.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird dropped 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. Chardan Capital dropped their target price on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday. HC Wainwright restated a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Friday. Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group dropped their price objective on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Creative Planning boosted its position in shares of Iovance Biotherapeutics by 2.6% during the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 1,896 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $105,000 after buying an additional 2,624 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Iovance Biotherapeutics by 59.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company's stock worth $204,000 after buying an additional 8,090 shares during the period. Farther Finance Advisors LLC increased its holdings in Iovance Biotherapeutics by 142.3% in the third quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company's stock valued at $145,000 after buying an additional 9,037 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in shares of Iovance Biotherapeutics by 42.7% during the 3rd quarter. Beacon Financial Advisory LLC now owns 21,120 shares of the biotechnology company's stock valued at $198,000 after acquiring an additional 6,320 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Down 3.0 %

The firm has a market cap of $1.19 billion, a PE ratio of -2.63 and a beta of 0.53. The company has a 50 day moving average price of $6.14 and a 200 day moving average price of $8.50.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts' consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

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.