Iovance Biotherapeutics (NASDAQ:IOVA) Shares Down 3% – Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was down 3% during mid-day trading on Tuesday . The stock traded as low as $1.73 and last traded at $1.73. Approximately 2,368,051 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 8,620,243 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

IOVA has been the topic of several research analyst reports. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Citizens Jmp downgraded Iovance Biotherapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 9th. Truist Financial cut shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 12th. The Goldman Sachs Group cut their target price on shares of Iovance Biotherapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Finally, HC Wainwright dropped their price target on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Hold” and a consensus target price of $13.30.

Iovance Biotherapeutics Stock Performance

The stock has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $5.34. The firm has a market capitalization of $572.70 million, a P/E ratio of -1.15 and a beta of 1.06.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The firm had revenue of $49.32 million during the quarter, compared to analyst estimates of $83.40 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. Iovance Biotherapeutics’s revenue for the quarter was up 6795.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) EPS. As a group, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Accredited Investors Inc. purchased a new stake in shares of Iovance Biotherapeutics in the first quarter valued at $33,000. WealthTrust Axiom LLC acquired a new position in Iovance Biotherapeutics in the 1st quarter valued at approximately $33,000. AlphaQuest LLC boosted its position in Iovance Biotherapeutics by 63.6% during 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. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth about $36,000. Finally, Flputnam Investment Management Co. bought a new stake in Iovance Biotherapeutics in the first quarter worth approximately $37,000. Institutional investors and hedge funds 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.