Iovance Biotherapeutics (NASDAQ:IOVA) Stock Passes Below 50 Day Moving Average – Should You Sell?

Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.42 and traded as low as $3.28. Iovance Biotherapeutics shares last traded at $3.30, with a volume of 9,777,900 shares trading hands.

Analyst Ratings Changes

Several equities analysts have commented on IOVA shares. The Goldman Sachs Group reiterated a “sell” rating and set a $2.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Truist Financial upgraded shares of Iovance Biotherapeutics to a “hold” rating in a research report on Wednesday, March 25th. Citizens Jmp upgraded shares of Iovance Biotherapeutics from a “market perform” rating to a “market outperform” rating and set a $5.00 price objective for the company in a research report on Tuesday, March 3rd. Finally, Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.88.

Iovance Biotherapeutics Stock Performance

The company’s fifty day moving average price is $3.44 and its 200-day moving average price is $2.74. The stock has a market cap of $1.43 billion, a P/E ratio of -3.10 and a beta of 0.76.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Tuesday, February 24th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $86.77 million during the quarter, compared to analyst estimates of $81.61 million. Iovance Biotherapeutics had a negative net margin of 148.41% and a negative return on equity of 54.54%. Analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several institutional investors have recently made changes to their positions in IOVA. Royal Bank of Canada lifted its holdings in shares of Iovance Biotherapeutics by 161.2% in the 1st quarter. Royal Bank of Canada now owns 522,887 shares of the biotechnology company’s stock worth $1,740,000 after acquiring an additional 322,680 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Iovance Biotherapeutics by 279.0% in the 1st quarter. AQR Capital Management LLC now owns 59,540 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 43,829 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 30.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,571,902 shares of the biotechnology company’s stock worth $18,554,000 after acquiring an additional 1,301,846 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Iovance Biotherapeutics by 202.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,777,344 shares of the biotechnology company’s stock worth $19,239,000 after acquiring an additional 3,869,617 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Iovance Biotherapeutics by 112.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 47,466 shares of the biotechnology company’s stock worth $82,000 after buying an additional 25,083 shares during the period. Institutional investors own 77.03% of the company’s stock.

About Iovance Biotherapeutics

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.