Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 4.5% - Should You Sell?

Key Points

• Iovance Biotherapeutics' stock price fell by 4.5%, trading at $2.24, with a significant decrease in trading volume compared to its average.
• Analysts have varied opinions on the company, with a consensus rating of "Hold" and an average price target of $11.90, reflecting mixed sentiments among investors.
• The company reported a quarterly earnings miss, with an EPS of ($0.33) compared to analysts' expectations of ($0.29), highlighting ongoing financial struggles.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price traded down 4.5% on Monday . The stock traded as low as $2.25 and last traded at $2.24. 2,133,431 shares traded hands during trading, a decline of 84% from the average session volume of 13,127,242 shares. The stock had previously closed at $2.34.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IOVA shares. Zacks Research raised Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Iovance Biotherapeutics in a research note on Saturday, September 27th. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th. Chardan Capital decreased their price target on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company decreased their price objective on Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $11.90.

Iovance Biotherapeutics Stock Down 5.6%

The company has a market cap of $799.69 million, a PE ratio of -1.80 and a beta of 0.83. The business's fifty day moving average is $2.38 and its 200-day moving average is $2.47.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The business had revenue of $59.95 million during the quarter, compared to analysts' expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently modified their holdings of IOVA. WealthTrust Axiom LLC raised its stake in shares of Iovance Biotherapeutics by 80.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company's stock valued at $31,000 after buying an additional 8,000 shares during the last quarter. Accredited Investors Inc. acquired a new position in Iovance Biotherapeutics during the first quarter worth about $33,000. Diversify Wealth Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $34,000. Flputnam Investment Management Co. purchased a new stake in Iovance Biotherapeutics in the 1st quarter valued at $37,000. Finally, Blueshift Asset Management LLC acquired a new stake in Iovance Biotherapeutics during the second quarter worth about $38,000. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.