Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 10.2% - Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price fell 10.2% during trading on Thursday . The company traded as low as $3.56 and last traded at $3.57. 19,325,007 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 13,146,120 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. UBS Group downgraded Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $17.00 to $2.00 in a research report on Friday, May 16th. Baird R W downgraded Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. JMP Securities reaffirmed a "market perform" rating on shares of Iovance Biotherapeutics in a research report on Friday, May 9th. Finally, Barclays lowered their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.22.

Iovance Biotherapeutics Stock Down 5.8%

The firm has a 50-day moving average price of $2.05 and a two-hundred day moving average price of $3.45. The firm has a market cap of $985.09 million, a PE ratio of -2.38 and a beta of 0.85.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.11). The business had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. Iovance Biotherapeutics had a negative net margin of 176.49% and a negative return on equity of 49.71%. The firm's revenue was up 6795.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.42) EPS. Research 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

A number of hedge funds have recently modified their holdings of IOVA. GF Fund Management CO. LTD. purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at approximately $47,000. One68 Global Capital LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Quarry LP purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at about $74,000. Fullcircle Wealth LLC purchased a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $74,000. Finally, Accredited Investors Inc. purchased a new position in Iovance Biotherapeutics in the 1st quarter valued at approximately $33,000. 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.