Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Ryan D. Maynard Sells 50,000 Shares

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Ryan D. Maynard sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded down $0.24 during trading hours on Friday, hitting $8.35. 1,191,760 shares of the company’s stock traded hands, compared to its average volume of 7,217,339. The stock’s fifty day simple moving average is $10.08 and its two-hundred day simple moving average is $9.77. Iovance Biotherapeutics, Inc. has a 12-month low of $4.33 and a 12-month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IOVA shares. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $10.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in shares of Iovance Biotherapeutics during the first quarter valued at $246,000. Sei Investments Co. boosted its holdings in shares of Iovance Biotherapeutics by 33.9% during the 1st quarter. Sei Investments Co. now owns 333,148 shares of the biotechnology company’s stock valued at $4,937,000 after acquiring an additional 84,382 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Iovance Biotherapeutics by 113.8% during the 1st quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 16,800 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 14.5% in the first quarter. ProShare Advisors LLC now owns 62,210 shares of the biotechnology company’s stock worth $922,000 after acquiring an additional 7,891 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Iovance Biotherapeutics by 9.2% during the first quarter. Vanguard Group Inc. now owns 24,915,300 shares of the biotechnology company’s stock valued at $369,245,000 after purchasing an additional 2,102,480 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Company Profile

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.