Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 1-Year Low – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.05 and last traded at $7.16, with a volume of 1018130 shares traded. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. UBS Group assumed coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Iovance Biotherapeutics Price Performance

The company has a fifty day moving average of $9.17 and a 200-day moving average of $9.28. The firm has a market capitalization of $2.17 billion, a PE ratio of -4.78 and a beta of 0.55.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, topping 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 company had revenue of $58.56 million during the quarter, compared to the consensus estimate of $53.54 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. Equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its stake in Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Iovance Biotherapeutics during the second quarter worth $58,000. Daiwa Securities Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 754.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 7,781 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Iovance Biotherapeutics in the 3rd quarter worth about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Iovance Biotherapeutics by 31.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 2,624 shares during the last quarter. Institutional investors own 77.03% of the company’s stock.

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.