Insider Selling: Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Director Sells $503,000.00 in Stock

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

Iovance Biotherapeutics Stock Performance

IOVA opened at $8.18 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of -5.49 and a beta of 0.60. Iovance Biotherapeutics, Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $18.33. The firm has a 50-day moving average of $10.04 and a 200 day moving average of $9.73.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Iovance Biotherapeutics

A number of large investors have recently bought and sold shares of the company. XML Financial LLC lifted its position in shares of Iovance Biotherapeutics by 7.4% during the 3rd quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 1,000 shares during the last quarter. Saturna Capital Corp lifted its holdings in Iovance Biotherapeutics by 7.0% during the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 1,353 shares during the last quarter. Diversified Trust Co boosted its position in Iovance Biotherapeutics by 9.5% during the second quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 1,469 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Iovance Biotherapeutics by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Iovance Biotherapeutics by 13.0% during the 2nd quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 1,873 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

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.