Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Down – What’s Next?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price gapped down before the market opened on Monday . The stock had previously closed at $2.69, but opened at $2.57. Iovance Biotherapeutics shares last traded at $2.56, with a volume of 3,809,851 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 15th. Chardan Capital lowered their price target on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Barclays decreased their target price on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Mizuho decreased their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, May 12th. Finally, Truist Financial lowered shares of Iovance Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.90.

Iovance Biotherapeutics Trading Up 1.0%

The stock has a market cap of $895.58 million, a P/E ratio of -2.00 and a beta of 0.88. The stock’s 50-day moving average is $2.32 and its 200-day moving average is $2.95.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. The business had revenue of $59.95 million during the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Iovance Biotherapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company’s stock valued at $92,500,000 after acquiring an additional 243,438 shares during the last quarter. Long Focus Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 80.2% in the 1st quarter. Long Focus Capital Management LLC now owns 9,250,055 shares of the biotechnology company’s stock valued at $30,803,000 after acquiring an additional 4,118,055 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Iovance Biotherapeutics by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,189,058 shares of the biotechnology company’s stock valued at $10,646,000 after acquiring an additional 220,760 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock valued at $19,239,000 after buying an additional 3,869,617 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock valued at $18,554,000 after buying an additional 1,301,846 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

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.