Iovance Biotherapeutics (NASDAQ:IOVA) Stock Price Down 3.7%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) shares were down 3.7% on Monday . The company traded as low as $13.00 and last traded at $13.03. Approximately 1,794,036 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 9,265,879 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

A number of equities analysts have weighed in on IOVA shares. Wells Fargo & Company upped their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. Barclays upped their price target on shares of Iovance Biotherapeutics from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. The Goldman Sachs Group upped their price target on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. Truist Financial reiterated a "buy" rating and issued a $17.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, December 27th. Finally, StockNews.com upgraded shares of Iovance Biotherapeutics to a "sell" rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.64.

Iovance Biotherapeutics Trading Down 3.4 %

The firm has a market capitalization of $3.65 billion, a PE ratio of -6.95 and a beta of 0.62. The business's 50 day simple moving average is $13.15 and its 200 day simple moving average is $8.48.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). The firm had revenue of $0.48 million for the quarter, compared to analysts' expectations of $1.44 million. During the same period in the previous year, the business earned ($0.64) EPS. Analysts forecast that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Activity at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak bought 250,000 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were acquired at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the transaction, the director now owns 320,150 shares of the company's stock, valued at approximately $2,929,372.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC grew its position in shares of Iovance Biotherapeutics by 52.3% in the 3rd quarter. Kennedy Capital Management LLC now owns 344,042 shares of the biotechnology company's stock worth $1,565,000 after buying an additional 118,133 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Iovance Biotherapeutics by 41.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,643,155 shares of the biotechnology company's stock worth $12,026,000 after buying an additional 772,905 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Iovance Biotherapeutics by 13.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,036,479 shares of the biotechnology company's stock worth $22,916,000 after buying an additional 609,738 shares during the last quarter. Mariner LLC grew its position in shares of Iovance Biotherapeutics by 107.3% in the 3rd quarter. Mariner LLC now owns 371,850 shares of the biotechnology company's stock worth $1,692,000 after buying an additional 192,450 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Iovance Biotherapeutics by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,143,470 shares of the biotechnology company's stock worth $100,753,000 after buying an additional 1,748,082 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company's stock.

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.