Iovance Biotherapeutics (NASDAQ:IOVA) Shares Down 6.6% - Here's Why

Key Points

• Shares fell 6.6% on Friday to $3.745 (intraday low $3.66) with only ~3.32M shares traded, about a 78% drop versus the stock's ~14.79M average daily volume.
• Analysts are mixed: MarketBeat shows a consensus "Hold" rating with 6 Buys, 4 Holds and 2 Sells and a consensus price target of $8.88.
• Iovance beat quarterly estimates (EPS -$0.18 vs. -$0.22 and revenue $86.77M vs. $81.61M) but remains unprofitable with a negative net margin (~148%) and analysts expect a full‑year loss (around -1.24 EPS); market cap is about $1.62B.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s stock price dropped 6.6% during trading on Friday . The stock traded as low as $3.66 and last traded at $3.7450. Approximately 3,321,432 shares traded hands during trading, a decline of 78% from the average daily volume of 14,790,701 shares. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

IOVA has been the subject of several research reports. Citizens Jmp upgraded shares of Iovance Biotherapeutics from a "market perform" rating to a "market outperform" rating and set a $5.00 price objective for the company in a research note on Tuesday, March 3rd. Truist Financial upgraded shares of Iovance Biotherapeutics to a "hold" rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Monday. The Goldman Sachs Group reiterated a "sell" rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Finally, Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.88.

Iovance Biotherapeutics Stock Down 2.1%

The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.51 and a beta of 0.76. The business's 50-day moving average is $3.47 and its 200-day moving average is $2.75.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. The company had revenue of $86.77 million during the quarter, compared to the consensus estimate of $81.61 million. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. As a group, analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. acquired a new position in Iovance Biotherapeutics during the third quarter valued at $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Iovance Biotherapeutics in the third quarter worth about $27,000. Arcataur Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $29,000. Granite Investment Partners LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $29,000. Finally, Motley Fool Asset Management LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter worth about $29,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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