Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 52-Week Low Following Analyst Downgrade

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price reached a new 52-week low on Friday after Robert W. Baird lowered their price target on the stock from $24.00 to $20.00. Robert W. Baird currently has an outperform rating on the stock. Iovance Biotherapeutics traded as low as $3.75 and last traded at $3.75, with a volume of 11092038 shares traded. The stock had previously closed at $5.26.

IOVA has been the topic of a number of other reports. Piper Sandler decreased their target price on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in the company. XML Financial LLC grew its position in Iovance Biotherapeutics by 7.4% in the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 1,000 shares during the period. Saturna Capital Corp raised its position in 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 purchasing an additional 1,353 shares during the period. AlphaQuest LLC lifted its stake in Iovance Biotherapeutics by 63.6% during the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 1,794 shares in the last quarter. Creative Planning boosted its position in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after buying an additional 1,896 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its stake in shares of Iovance Biotherapeutics by 10.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock valued at $158,000 after buying an additional 1,950 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Down 27.7 %

The company has a fifty day moving average of $6.27 and a 200-day moving average of $8.62. The stock has a market cap of $1.16 billion, a PE ratio of -2.51 and a beta of 0.53.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. As a group, 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.