Iovance Biotherapeutics (NASDAQ:IOVA) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Iovance Biotherapeutics shares fell below their 200-day moving average, trading as low as $1.97, and closing at $2.02 with significant volume of 9,999,164 shares.
• Analysts have issued mixed ratings; Goldman Sachs downgraded the stock to a "sell," while others like Wells Fargo and HC Wainwright maintained a "buy" rating with price targets ranging from $14.00 to $20.00.
• The company reported a loss of ($0.33) EPS in its latest earnings results, missing consensus estimates, and projecting a negative return on equity of 52.87%.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.55 and traded as low as $1.97. Iovance Biotherapeutics shares last traded at $2.02, with a volume of 9,999,164 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IOVA. The Goldman Sachs Group lowered Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research note on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Chardan Capital reduced their price objective on Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research note on Tuesday, August 19th. Finally, Zacks Research raised Iovance Biotherapeutics to a "hold" rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of "Hold" and an average price target of $11.90.

Iovance Biotherapeutics Stock Down 4.7%

The firm has a market cap of $730.94 million, a price-to-earnings ratio of -1.64 and a beta of 0.82. The company has a 50-day moving average price of $2.48 and a 200 day moving average price of $2.55.

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

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its holdings in shares of Iovance Biotherapeutics by 39.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 5,500 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Iovance Biotherapeutics by 7.3% during the fourth quarter. California State Teachers Retirement System now owns 203,241 shares of the biotechnology company's stock worth $1,504,000 after acquiring an additional 13,774 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 366,775 shares of the biotechnology company's stock worth $1,221,000 after acquiring an additional 30,794 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Iovance Biotherapeutics by 93.6% during the first quarter. SG Americas Securities LLC now owns 134,765 shares of the biotechnology company's stock worth $449,000 after acquiring an additional 65,140 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Iovance Biotherapeutics by 46.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,451 shares of the biotechnology company's stock worth $91,000 after acquiring an additional 8,713 shares in the last quarter. Institutional investors and hedge funds 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.

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