Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 12-Month Low After Analyst Downgrade

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) reached a new 52-week low on Monday after Piper Sandler lowered their price target on the stock from $10.00 to $7.50. Piper Sandler currently has a neutral rating on the stock. Iovance Biotherapeutics traded as low as $5.52 and last traded at $5.68, with a volume of 734900 shares. The stock had previously closed at $5.85.

Other research analysts also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. UBS Group initiated coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Iovance Biotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Insider Buying and Selling

In other news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.10% of the stock is currently owned by insiders.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently bought and sold shares of IOVA. Impact Partnership Wealth LLC acquired a new position in Iovance Biotherapeutics during the fourth quarter worth $83,000. ORG Wealth Partners LLC acquired a new stake in Iovance Biotherapeutics in the 3rd quarter valued at $89,000. Clear Creek Financial Management LLC bought a new stake in Iovance Biotherapeutics during the 4th quarter valued at $91,000. KBC Group NV lifted its position in shares of Iovance Biotherapeutics by 105.7% during the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock worth $91,000 after buying an additional 6,321 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Iovance Biotherapeutics by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after buying an additional 2,624 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 3.6 %

The business’s 50-day moving average price is $7.34 and its 200 day moving average price is $8.99. The company has a market capitalization of $1.72 billion, a P/E ratio of -3.79 and a beta of 0.54.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. The business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period last year, the business posted ($0.46) earnings per share. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

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.