Iovance Biotherapeutics (NASDAQ:IOVA) Sets New 12-Month Low on Analyst Downgrade

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s stock price hit a new 52-week low during trading on Saturday after The Goldman Sachs Group lowered their price target on the stock from $16.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Iovance Biotherapeutics traded as low as $1.65 and last traded at $1.75, with a volume of 112141445 shares traded. The stock had previously closed at $3.17.

Other research analysts have also issued reports about the stock. Barclays cut their price objective on shares of Iovance Biotherapeutics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday. HC Wainwright cut their price objective on Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday. JMP Securities restated a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, Mizuho lowered their target price on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics has a consensus rating of "Hold" and an average price target of $14.80.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently bought and sold shares of IOVA. Vanguard Group Inc. lifted its stake in Iovance Biotherapeutics by 0.9% in the first 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. Hood River Capital Management LLC boosted its holdings in Iovance Biotherapeutics by 10.4% in the 4th quarter. Hood River Capital Management LLC now owns 8,991,573 shares of the biotechnology company's stock valued at $66,538,000 after purchasing an additional 846,936 shares during the period. Geode Capital Management LLC raised its stake in Iovance Biotherapeutics by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 5,871,420 shares of the biotechnology company's stock valued at $43,458,000 after purchasing an additional 222,425 shares in the last quarter. Long Focus Capital Management LLC raised its stake in Iovance Biotherapeutics by 13.2% during the fourth quarter. Long Focus Capital Management LLC now owns 5,132,000 shares of the biotechnology company's stock worth $37,977,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Iovance Biotherapeutics by 28.7% in the first quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company's stock valued at $15,631,000 after buying an additional 1,047,335 shares in the last quarter. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Trading Up 10.3%

The business has a 50-day moving average of $3.32 and a two-hundred day moving average of $6.00. The firm has a market cap of $644.49 million, a P/E ratio of -1.30 and a beta of 1.06.

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

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.