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

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

Iovance Biotherapeutics Stock Performance

Shares of IOVA stock traded down $0.41 on Thursday, hitting $8.59. The company’s stock had a trading volume of 6,933,201 shares, compared to its average volume of 7,244,521. Iovance Biotherapeutics, Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $18.33. The company has a market capitalization of $2.62 billion, a PE ratio of -6.04 and a beta of 0.60. The stock’s 50 day moving average is $10.12 and its 200-day moving average is $9.78.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted ($0.46) EPS. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of Iovance Biotherapeutics

A number of institutional investors have recently modified their holdings of the stock. ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the second quarter worth about $32,000. Quest Partners LLC lifted its holdings in shares of Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 4,629 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. increased its stake in Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 7,781 shares during the last quarter. Finally, Abacus Planning Group Inc. acquired a new position in Iovance Biotherapeutics during the second quarter valued at approximately $82,000. 77.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.