Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.05 and last traded at $3.07, with a volume of 1131085 shares traded. The stock had previously closed at $3.25.

A number of equities analysts have issued reports on IOVA shares. Robert W. Baird lowered their price target on Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Piper Sandler decreased their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. The Goldman Sachs Group decreased their target price on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, Chardan Capital lowered their target price on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

Get Our Latest Analysis on Iovance Biotherapeutics

The company has a market cap of $1.00 billion, a price-to-earnings ratio of -2.09 and a beta of 1.05. The stock's 50-day simple moving average is $4.68 and its 200 day simple moving average is $7.38.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million during the quarter, compared to analysts' expectations of $72.17 million. On average, sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Man Group plc purchased a new stake in Iovance Biotherapeutics during the fourth quarter worth approximately $17,871,000. Assenagon Asset Management S.A. purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $12,927,000. Raymond James Financial Inc. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter valued at approximately $11,568,000. Principal Financial Group Inc. increased its holdings in shares of Iovance Biotherapeutics by 59.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,033,184 shares of the biotechnology company's stock valued at $37,872,000 after purchasing an additional 1,496,941 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Iovance Biotherapeutics in the 4th quarter valued at approximately $8,365,000. Hedge funds and other institutional investors own 77.03% of the company's stock.

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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.

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