Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

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

Iovance Biotherapeutics Stock Performance

The stock has a market cap of $1.89 billion, a PE ratio of -4.15 and a beta of 0.57. The firm has a fifty day moving average price of $7.71 and a 200 day moving average price of $9.11.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $53.54 million. During the same period last year, the business posted ($0.46) earnings per share. On average, equities research 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 firm’s stock in a transaction on Tuesday, November 12th. The shares were 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 owns 7,500 shares of the company’s stock, valued at approximately $75,450. This trade represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of large investors have recently made changes to their positions in IOVA. Perceptive Advisors LLC raised its stake in Iovance Biotherapeutics by 34.6% in the 2nd quarter. Perceptive Advisors LLC now owns 25,933,142 shares of the biotechnology company’s stock worth $207,984,000 after acquiring an additional 6,660,151 shares during the last quarter. State Street Corp increased its holdings 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 purchasing an additional 576,801 shares during the period. Long Focus Capital Management LLC raised its stake in shares of Iovance Biotherapeutics by 195.1% in the second quarter. Long Focus Capital Management LLC now owns 4,132,000 shares of the biotechnology company’s stock worth $33,139,000 after purchasing an additional 2,731,688 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 59.0% during the third quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company’s stock worth $37,872,000 after purchasing an additional 1,496,941 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Iovance Biotherapeutics in the fourth quarter valued at approximately $12,927,000. 77.03% of the stock is 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.