Iovance Biotherapeutics (NASDAQ:IOVA) Share Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Iovance Biotherapeutics shares have dipped below their 200-day moving average of $2.62, trading as low as $2.19 on Wednesday, with a current price of $2.22.
• Analysts have recently issued mixed ratings for Iovance, with Goldman Sachs downgrading the stock to "sell" and others maintaining buy or hold ratings, leading to a consensus rating of "Hold" with a price target of $11.90.
• The company reported a quarterly earnings miss, with an EPS of ($0.33), falling short of the consensus estimate of ($0.29), and revenue of $59.95 million, below the anticipated $67.14 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.62 and traded as low as $2.19. Iovance Biotherapeutics shares last traded at $2.22, with a volume of 9,006,027 shares trading hands.

Wall Street Analysts Forecast Growth

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

Iovance Biotherapeutics Stock Down 6.8%

The firm has a market capitalization of $741.79 million, a PE ratio of -1.67 and a beta of 0.82. The company's 50-day simple moving average is $2.48 and its 200 day simple moving average is $2.59.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share 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. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Iovance Biotherapeutics by 8.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178,303 shares of the biotechnology company's stock worth $1,314,000 after buying an additional 13,987 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Iovance Biotherapeutics by 27.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,683,208 shares of the biotechnology company's stock valued at $12,456,000 after acquiring an additional 361,086 shares during the period. ProShare Advisors LLC lifted its position in shares of Iovance Biotherapeutics by 39.5% during the fourth quarter. ProShare Advisors LLC now owns 91,775 shares of the biotechnology company's stock worth $679,000 after purchasing an additional 25,996 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $47,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in Iovance Biotherapeutics by 39.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,442 shares of the biotechnology company's stock worth $144,000 after buying an additional 5,500 shares during the period. Hedge funds and other institutional investors 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.