Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 12-Month Low – Here’s Why

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.58 and last traded at $3.61, with a volume of 4115659 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

A number of research firms recently commented on IOVA. Chardan Capital lowered their price target on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial decreased their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. The Goldman Sachs Group reduced their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Piper Sandler dropped their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Iovance Biotherapeutics Price Performance

The stock’s 50 day moving average is $5.85 and its 200-day moving average is $8.32. The company has a market capitalization of $1.23 billion, a P/E ratio of -2.52 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $73.69 million for the quarter, compared to the consensus estimate of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in IOVA. AlphaQuest LLC grew its position in shares of Iovance Biotherapeutics by 63.6% in the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after buying an additional 1,794 shares during the period. SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $36,000. GF Fund Management CO. LTD. bought a new stake in Iovance Biotherapeutics during the fourth quarter worth about $47,000. One68 Global Capital LLC purchased a new stake in Iovance Biotherapeutics in the fourth quarter worth about $74,000. Finally, Quarry LP bought a new position in shares of Iovance Biotherapeutics during the fourth quarter valued at approximately $74,000. 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.