Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 52-Week Low – What’s Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.42 and last traded at $3.46, with a volume of 1328744 shares traded. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial reduced their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Iovance Biotherapeutics Trading Down 1.0 %

The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.35 and a beta of 0.93. The stock has a 50-day moving average price of $5.18 and a 200 day moving average price of $7.85.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting 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 firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently bought and sold shares of IOVA. GSA Capital Partners LLP acquired a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $242,000. Victory Capital Management Inc. boosted its holdings in Iovance Biotherapeutics by 399.4% in the 3rd quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after buying an additional 115,387 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $920,000. Landscape Capital Management L.L.C. acquired a new stake in Iovance Biotherapeutics in the 3rd quarter worth about $615,000. Finally, Algert Global LLC boosted its holdings in Iovance Biotherapeutics by 53.2% in the 3rd quarter. Algert Global LLC now owns 54,070 shares of the biotechnology company’s stock worth $508,000 after buying an additional 18,784 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.