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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $7.05 and last traded at $7.05, with a volume of 3203302 shares. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IOVA shares. UBS Group initiated coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. One 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Iovance Biotherapeutics Stock Performance

The firm’s 50 day moving average price is $8.62 and its two-hundred day moving average price is $9.22. The company has a market cap of $1.95 billion, a P/E ratio of -4.30 and a beta of 0.57.

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 analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same quarter last year, the company earned ($0.46) earnings per share. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -1.23 EPS for the current fiscal year.

Insider Transactions at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its position in shares of Iovance Biotherapeutics by 3.8% in the second quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company’s stock valued at $439,000 after purchasing an additional 1,985 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $193,000. Quest Partners LLC grew its stake in shares of Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 4,629 shares during the last quarter. Choreo LLC purchased a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $116,000. Finally, Daiwa Securities Group Inc. raised its holdings in Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 7,781 shares during the last quarter. 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.