Iovance Biotherapeutics (NASDAQ:IOVA) Hits New 1-Year Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group initiated coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Stock Down 9.7 %

The company has a market cap of $1.76 billion, a price-to-earnings ratio of -3.88 and a beta of 0.57. The company has a fifty day simple moving average of $8.52 and a two-hundred day simple moving average of $9.23.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The firm had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period last year, the firm posted ($0.46) EPS. On average, research analysts predict that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Activity at Iovance Biotherapeutics

In other news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was 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 directly owns 7,500 shares of the company’s stock, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.10% of the stock is owned by corporate insiders.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOVA. Barclays PLC boosted its stake in shares of Iovance Biotherapeutics by 118.8% during the 3rd quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 328,284 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 valued at $37,872,000 after buying an additional 1,496,941 shares during the period. Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics during the third quarter worth approximately $920,000. State Street Corp grew its stake in Iovance Biotherapeutics by 4.6% in the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after acquiring an additional 576,801 shares during the period. Finally, Marshall Wace LLP acquired a new position in Iovance Biotherapeutics in the 2nd quarter valued at $12,929,000. Hedge funds and other 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.