Iovance Biotherapeutics (NASDAQ:IOVA) Reaches New 52-Week Low – What’s Next?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) hit a new 52-week low during trading on Monday . The company traded as low as $5.50 and last traded at $5.50, with a volume of 3928988 shares traded. The stock had previously closed at $5.69.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, Piper Sandler dropped their target price on Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Iovance Biotherapeutics Stock Performance

The company has a market capitalization of $1.63 billion, a P/E ratio of -3.58 and a beta of 0.53. The stock’s fifty day moving average price is $6.92 and its 200-day moving average price is $8.86.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently made changes to their positions in IOVA. AlphaQuest LLC increased its holdings in shares of Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Iovance Biotherapeutics during the fourth quarter worth $36,000. Impact Partnership Wealth LLC acquired a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at $83,000. Kazazian Asset Management LLC bought a new position in shares of Iovance Biotherapeutics in the fourth quarter valued at about $84,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth about $89,000. 77.03% of the stock is owned by institutional investors and hedge funds.

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.