Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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 approximately $75,450. This represents a 86.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Iovance Biotherapeutics Stock Down 2.8 %
Shares of NASDAQ IOVA traded down $0.24 during mid-day trading on Friday, hitting $8.35. 1,191,760 shares of the company's stock traded hands, compared to its average volume of 7,217,339. Iovance Biotherapeutics, Inc. has a 1 year low of $4.33 and a 1 year high of $18.33. The company's 50-day moving average is $10.08 and its two-hundred day moving average is $9.77.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its 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 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 quarter in the prior year, the firm posted ($0.46) earnings per share. On average, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.25 EPS for the current fiscal year.
Hedge Funds Weigh In On Iovance Biotherapeutics
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A number of large investors have recently bought and sold shares of the business. ORG Partners LLC bought a new stake in Iovance Biotherapeutics during the 2nd quarter valued at about $32,000. Quest Partners LLC increased its holdings 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 valued at $40,000 after acquiring an additional 4,629 shares during the period. EverSource Wealth Advisors LLC bought a new position in Iovance Biotherapeutics in the second quarter worth about $58,000. Daiwa Securities Group Inc. raised its stake in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 7,781 shares in the last quarter. Finally, Abacus Planning Group Inc. purchased a new position in Iovance Biotherapeutics in the second quarter worth $82,000. Hedge funds and other institutional investors own 77.03% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. UBS Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, October 24th. They set a "buy" rating and a $17.00 target price for the company. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $19.00 to $10.00 in a report on Monday, July 29th. HC Wainwright reissued 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 raised Iovance Biotherapeutics to a "sell" rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.33.
Read Our Latest Stock Analysis on IOVA
About Iovance Biotherapeutics
(
Get Free Report)
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.
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