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 firm’s stock in a transaction that occurred 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 sale, the director now owns 7,500 shares in the company, valued at approximately $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA traded down $0.41 during trading on Thursday, hitting $8.59. 6,933,201 shares of the company traded hands, compared to its average volume of 7,244,521. The business’s fifty day moving average is $10.12 and its 200 day moving average is $9.78. 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 market capitalization of $2.62 billion, a price-to-earnings ratio of -6.04 and a beta of 0.60.

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

Institutional Trading of Iovance Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in IOVA. ORG Partners LLC bought a new stake in Iovance Biotherapeutics in the 2nd quarter worth about $32,000. Quest Partners LLC boosted its stake in shares of Iovance Biotherapeutics by 1,237.7% in the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after buying an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Iovance Biotherapeutics in the second quarter valued at approximately $58,000. Daiwa Securities Group Inc. increased its position in shares of Iovance Biotherapeutics by 754.0% during 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, ORG Wealth Partners LLC bought a new stake in Iovance Biotherapeutics during the third quarter worth $89,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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