Iovance Biotherapeutics (NASDAQ:IOVA) Shares Gap Down - Should You Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $2.01, but opened at $1.89. Iovance Biotherapeutics shares last traded at $1.72, with a volume of 6,923,841 shares changing hands.

Analyst Upgrades and Downgrades

IOVA has been the topic of a number of research analyst reports. Citizens Jmp downgraded shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. JMP Securities reiterated a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. UBS Group lowered shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $17.00 to $2.00 in a research note on Friday, May 16th. 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, May 12th. Finally, Mizuho cut their price objective on shares of Iovance Biotherapeutics from $30.00 to $10.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.22.

Iovance Biotherapeutics Stock Down 4.7%

The company has a 50-day moving average price of $1.90 and a two-hundred day moving average price of $3.65. The stock has a market capitalization of $744.66 million, a P/E ratio of -1.80 and a beta of 0.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $83.40 million. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The firm's revenue was up 6795.1% on a year-over-year basis. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Iovance Biotherapeutics by 202.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company's stock valued at $19,239,000 after purchasing an additional 3,869,617 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company's stock valued at $18,554,000 after purchasing an additional 1,301,846 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the first quarter valued at approximately $51,000. Invenomic Capital Management LP purchased a new stake in Iovance Biotherapeutics in the first quarter worth $18,281,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Iovance Biotherapeutics in the first quarter worth $4,191,000. 77.03% of the stock is currently owned by institutional investors.

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.