Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 12-Month Low – Here’s What Happened

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $3.33 and last traded at $3.44, with a volume of 10456614 shares changing hands. The stock had previously closed at $3.48.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IOVA shares. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Friday, February 28th. Chardan Capital cut their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird lowered their price target on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Truist Financial cut their price objective on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Piper Sandler dropped their target price on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Iovance Biotherapeutics Stock Down 1.9 %

The company has a market cap of $1.17 billion, a price-to-earnings ratio of -2.39 and a beta of 0.93. The business has a 50-day simple moving average of $4.89 and a two-hundred day simple moving average of $7.56.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. As a group, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AlphaQuest LLC grew its position in shares of Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Iovance Biotherapeutics by 10.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,950 shares during the period. Baird Financial Group Inc. grew its holdings in Iovance Biotherapeutics by 1.0% in the 4th quarter. Baird Financial Group Inc. now owns 195,845 shares of the biotechnology company’s stock valued at $1,449,000 after buying an additional 2,000 shares during the last quarter. Algert Global LLC increased its position in Iovance Biotherapeutics by 4.3% in the 4th quarter. Algert Global LLC now owns 56,400 shares of the biotechnology company’s stock worth $417,000 after buying an additional 2,330 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 79,238 shares of the biotechnology company’s stock valued at $586,000 after acquiring an additional 2,951 shares during the period. 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.