Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 8% – Time to Sell?

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) shares fell 8% on Friday . The company traded as low as $4.34 and last traded at $4.3150. Approximately 1,637,252 shares traded hands during trading, a decline of 89% from the average session volume of 15,006,516 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IOVA shares. Chardan Capital reduced their price objective on shares of Iovance Biotherapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Iovance Biotherapeutics in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.43.

Iovance Biotherapeutics Stock Performance

The firm has a market cap of $1.81 billion, a P/E ratio of -4.26 and a beta of 0.70. The stock’s 50-day moving average is $4.31 and its 200 day moving average is $3.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). Iovance Biotherapeutics had a negative return on equity of 50.17% and a negative net margin of 123.92%.The firm had revenue of $71.43 million for the quarter, compared to analyst estimates of $77.84 million. During the same period in the previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. On average, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Hedge funds have recently modified their holdings of the business. Xponance LLC increased its position in Iovance Biotherapeutics by 19.4% during the fourth quarter. Xponance LLC now owns 24,288 shares of the biotechnology company’s stock worth $66,000 after buying an additional 3,950 shares during the last quarter. Raymond James Financial Inc. raised its stake in Iovance Biotherapeutics by 1.4% in the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock valued at $557,000 after buying an additional 4,618 shares during the period. Orion Investment Co lifted its position in shares of Iovance Biotherapeutics by 0.3% in the fourth quarter. Orion Investment Co now owns 1,856,934 shares of the biotechnology company’s stock valued at $5,069,000 after buying an additional 5,150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Iovance Biotherapeutics by 37.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,290 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 5,301 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Iovance Biotherapeutics by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 46,812 shares of the biotechnology company’s stock worth $128,000 after acquiring an additional 5,563 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Company Profile

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.