Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.77 and last traded at $5.78, with a volume of 16742751 shares changing hands. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Iovance Biotherapeutics Price Performance

The company has a market cap of $1.80 billion, a P/E ratio of -3.97 and a beta of 0.57. The company has a fifty day simple moving average of $8.17 and a 200-day simple moving average of $9.17.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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 company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period in the previous year, the firm earned ($0.46) earnings per share. On average, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Buying and Selling at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC raised its position in 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 buying an additional 4,629 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Iovance Biotherapeutics during the 2nd quarter valued at about $58,000. Daiwa Securities Group Inc. increased its holdings 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 period. ORG Wealth Partners LLC purchased a new stake in shares of Iovance Biotherapeutics in the third quarter worth approximately $89,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 2,624 shares during the period. Institutional investors and hedge funds 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.