Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 5.8% - Here's Why

Key Points

• Iovance Biotherapeutics shares fell 5.8% to about $8.47 in heavy trading, despite remaining above their 50-day and 200-day moving averages.
• Analyst views remain mixed: six analysts rate the stock Buy, while two rate it Hold and two Sell. The overall consensus is Hold, with an average price target of $8.75.
• The company beat quarterly expectations, reporting a loss of $0.11 per share versus the estimated $0.13 loss and revenue of $198.63 million, up 65.7% year over year. However, Iovance remains unprofitable, with an 89.11% negative net margin.

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) traded down 5.8% on Friday . The company traded as low as $8.45 and last traded at $8.47. Approximately 12,189,393 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 15,728,499 shares. The stock had previously closed at $8.99.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Iovance Biotherapeutics in a research note on Thursday, July 2nd. Citigroup reaffirmed an "outperform" rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Chardan Capital decreased their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 7th. UBS Group lifted their price objective on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Citizens Jmp boosted their price target on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.75.

Iovance Biotherapeutics Trading Down 6.6%

The firm has a market cap of $3.80 billion, a PE ratio of -11.51 and a beta of 0.71. The business's 50-day simple moving average is $4.96 and its 200 day simple moving average is $4.09.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm had revenue of $198.63 million during the quarter, compared to analysts' expectations of $87.83 million. During the same quarter in the prior year, the company earned ($0.33) EPS. The company's revenue was up 65.7% compared to the same quarter last year. Analysts expect that Iovance Biotherapeutics, Inc. will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IOVA. Granite Investment Partners LLC purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $29,000. Motley Fool Asset Management LLC purchased a new stake in shares of Iovance Biotherapeutics during the fourth quarter valued at about $29,000. M&T Bank Corp bought a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. boosted its holdings in shares of Iovance Biotherapeutics by 169.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company's stock valued at $32,000 after buying an additional 7,269 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter worth approximately $34,000. 77.03% of the stock is owned by institutional investors.

About Iovance Biotherapeutics

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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