Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 1-Year Low - Here's What Happened

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.57 and last traded at $5.73, with a volume of 3135126 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

A number of research firms have recently commented on IOVA. HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group began coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Iovance Biotherapeutics Price Performance

The stock has a 50-day moving average price of $7.78 and a 200-day moving average price of $9.14. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -3.95 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $53.54 million. During the same quarter last year, the firm posted ($0.46) EPS. Equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $75,450. This trade represents a 86.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently modified their holdings of the business. XML Financial LLC raised its stake in Iovance Biotherapeutics by 7.4% in the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company's stock worth $136,000 after purchasing an additional 1,000 shares in the last quarter. Saturna Capital Corp raised its position in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company's stock valued at $193,000 after buying an additional 1,353 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Iovance Biotherapeutics by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company's stock valued at $160,000 after buying an additional 1,776 shares during the period. Xponance Inc. grew its position in Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company's stock worth $131,000 after buying an additional 1,873 shares in the last quarter. Finally, Creative Planning increased its stake in 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 acquiring an additional 1,896 shares during the period. 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.