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 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 transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. The trade was a 86.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $8.18 on Friday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -5.49 and a beta of 0.60. The company’s 50 day simple moving average is $10.04 and its 200 day simple moving average is $9.74. Iovance Biotherapeutics, Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $58.56 million during 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 in the prior year, the company earned ($0.46) EPS. As a group, analysts predict that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IOVA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group began coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. Piper Sandler cut shares of Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a research 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 assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.33.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of the business. ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the 2nd quarter worth approximately $32,000. Quest Partners LLC increased its position in shares of Iovance Biotherapeutics by 1,237.7% during the second 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 in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth $58,000. Daiwa Securities Group Inc. lifted its position in Iovance Biotherapeutics by 754.0% in the 2nd 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 in the last quarter. Finally, Abacus Planning Group Inc. acquired a new position in Iovance Biotherapeutics in the 2nd quarter worth $82,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.