Iovance Biotherapeutics (NASDAQ:IOVA) Trading Down 5.8% – Here’s Why

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

Analysts Set New Price Targets

Several equities analysts have issued reports on IOVA shares. UBS Group lifted their price target on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday. Mizuho raised their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday. Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a research note on Friday, August 7th. Citizens Jmp upped their price objective on shares of Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Hold” and an average target price of $8.75.

Iovance Biotherapeutics Stock Performance

The company has a 50 day simple moving average of $4.96 and a two-hundred day simple moving average of $4.09. The firm has a market cap of $3.80 billion, a PE ratio of -11.51 and a beta of 0.71.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Iovance Biotherapeutics had a negative return on equity of 40.51% and a negative net margin of 89.11%.The firm had revenue of $198.63 million during the quarter, compared to analysts’ expectations of $87.83 million. During the same period last year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 65.7% compared to the same quarter last year. As a group, research analysts predict that Iovance Biotherapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter worth approximately $29,000. Motley Fool Asset Management LLC purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $29,000. M&T Bank Corp purchased a new stake in shares of Iovance Biotherapeutics in the 4th quarter valued at $31,000. SBI Securities Co. Ltd. increased its stake in shares of Iovance Biotherapeutics by 169.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 11,568 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 7,269 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Iovance Biotherapeutics in the first quarter worth $34,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.