Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 5.8% – Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was down 5.8% on Friday . The stock traded as low as $8.45 and last traded at $8.47. 12,189,393 shares changed hands during trading, a decline of 23% from the average session volume of 15,728,499 shares. The stock had previously closed at $8.99.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a report on Friday, August 7th. Citizens Jmp boosted their price target on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. UBS Group increased their price objective on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday. Mizuho lifted their price objective on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Finally, Chardan Capital reduced their target price on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.75.

Iovance Biotherapeutics Trading Down 7.8%

The firm has a market capitalization of $3.76 billion, a P/E ratio of -11.36 and a beta of 0.71. The firm has a 50 day moving average price of $5.05 and a 200-day moving average price of $4.12.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $198.63 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The business’s revenue was up 65.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) EPS. Research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in IOVA. Granite Investment Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth $29,000. Motley Fool Asset Management LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $29,000. M&T Bank Corp bought a new position in Iovance Biotherapeutics in the fourth quarter worth about $31,000. SBI Securities Co. Ltd. raised its holdings in Iovance Biotherapeutics by 169.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 7,269 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Iovance Biotherapeutics during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a clinical?stage biotechnology company specializing in the development and commercialization of tumor?infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN?144), is an autologous TIL therapy in late?stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next?generation TIL programs such as LN?145 for cervical and other human papillomavirus (HPV)?related cancers, as well as exploratory studies in head and neck, non?small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor?reactive lymphocytes.