Iovance Biotherapeutics (NASDAQ:IOVA) Shares Down 8% – Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price fell 8% during mid-day trading on Wednesday . The stock traded as low as $2.26 and last traded at $2.2450. 5,387,957 shares traded hands during trading, a decline of 61% from the average session volume of 13,849,255 shares. The stock had previously closed at $2.44.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IOVA. Weiss Ratings restated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. HC Wainwright decreased their target price on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Chardan Capital reduced their price target on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Zacks Research upgraded Iovance Biotherapeutics to a “hold” rating in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.50.

Iovance Biotherapeutics Trading Down 8.4%

The firm has a market capitalization of $887.23 million, a P/E ratio of -1.87 and a beta of 0.87. The business’s fifty day moving average is $2.21 and its 200 day moving average is $2.22.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Iovance Biotherapeutics had a negative net margin of 158.78% and a negative return on equity of 55.24%. The firm had revenue of $67.46 million during the quarter, compared to analyst estimates of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IOVA. Bank of New York Mellon Corp raised its holdings in Iovance Biotherapeutics by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 918,210 shares of the biotechnology company’s stock worth $3,058,000 after acquiring an additional 52,376 shares during the period. Allianz Asset Management GmbH bought a new stake in Iovance Biotherapeutics in the 1st quarter valued at $68,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth about $57,000. Pier 88 Investment Partners LLC increased its position in Iovance Biotherapeutics by 132.4% during the 1st quarter. Pier 88 Investment Partners LLC now owns 126,940 shares of the biotechnology company’s stock worth $423,000 after buying an additional 72,310 shares during the period. Finally, Accredited Investors Inc. acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth approximately $33,000. 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.