Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 1-Year Low – What’s Next?

Shares of 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IOVA. UBS Group assumed coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Trading Up 0.3 %

The company has a 50-day moving average of $8.17 and a 200-day moving average of $9.17. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.97 and a beta of 0.57.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. During the same period in the prior year, the company earned ($0.46) earnings per share. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in IOVA. XML Financial LLC increased its holdings in shares of Iovance Biotherapeutics by 7.4% in the 3rd 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 grew its position in Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 1,353 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Iovance Biotherapeutics by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 1,776 shares during the period. Xponance Inc. raised its holdings in shares of Iovance Biotherapeutics by 13.0% during the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 1,873 shares during the last quarter. Finally, 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. 77.03% of the stock is currently owned by 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.