Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 7.9% – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)’s share price dropped 7.9% during trading on Monday . The company traded as low as $2.27 and last traded at $2.2750. Approximately 4,294,800 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 13,692,844 shares. The stock had previously closed at $2.47.

Analysts Set New Price Targets

IOVA has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iovance Biotherapeutics in a research note 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 report on Friday, August 8th. HC Wainwright lowered their price objective on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Barclays raised their target price on shares of Iovance Biotherapeutics from $4.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Finally, Chardan Capital lowered their target price on Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Iovance Biotherapeutics Stock Performance

The firm has a market cap of $899.14 million, a price-to-earnings ratio of -1.89 and a beta of 0.82. The stock’s fifty day moving average is $2.23 and its two-hundred day moving average is $2.22.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.25) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $76.20 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new position in shares of Iovance Biotherapeutics in the third quarter worth $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Iovance Biotherapeutics in the third quarter worth about $27,000. WealthTrust Axiom LLC lifted its holdings in Iovance Biotherapeutics by 80.0% in the second quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 8,000 shares during the period. Federated Hermes Inc. grew its position in Iovance Biotherapeutics by 67.6% in the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 6,095 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Iovance Biotherapeutics during the 3rd quarter valued at about $34,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.