Insider Selling: Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Sells 50,000 Shares of Stock

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Ryan D. Maynard sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. This represents a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Iovance Biotherapeutics Stock Down 4.8 %

Shares of NASDAQ IOVA opened at $8.18 on Friday. The business’s 50 day moving average price is $10.04 and its two-hundred day moving average price is $9.74. The company has a market cap of $2.49 billion, a PE ratio of -5.49 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a twelve month low of $4.33 and a twelve month high of $18.33.

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in Iovance Biotherapeutics in the 1st quarter valued at $246,000. Sei Investments Co. grew its stake in shares of Iovance Biotherapeutics by 33.9% in the first 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 in the last quarter. US Bancorp DE increased its position in Iovance Biotherapeutics by 113.8% during the first quarter. US Bancorp DE now owns 31,557 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 16,800 shares during the period. ProShare Advisors LLC raised its stake in Iovance Biotherapeutics by 14.5% in the 1st quarter. ProShare Advisors LLC now owns 62,210 shares of the biotechnology company’s stock worth $922,000 after purchasing an additional 7,891 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 9.2% in the 1st 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 period. Institutional investors own 77.03% of the company’s stock.

Wall Street Analyst Weigh In

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

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.