Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Short Interest Update

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 56,920,000 shares, a growth of 5.4% from the November 15th total of 53,990,000 shares. Based on an average daily volume of 6,130,000 shares, the short-interest ratio is currently 9.3 days. Approximately 23.1% of the company’s stock are short sold.

Insider Activity

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 7,500 shares of the company’s stock, valued at $75,450. This represents a 86.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC increased its stake in shares of Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC bought a new position in Iovance Biotherapeutics in the 2nd quarter worth approximately $58,000. Daiwa Securities Group Inc. lifted its holdings 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 worth $71,000 after buying an additional 7,781 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the third quarter worth approximately $89,000. Finally, Abacus Planning Group Inc. bought a new stake in shares of Iovance Biotherapeutics in the second quarter valued at approximately $82,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

IOVA opened at $7.83 on Monday. The company has a market cap of $2.39 billion, a PE ratio of -5.25 and a beta of 0.55. The stock has a 50-day moving average of $9.63 and a 200-day moving average of $9.35. Iovance Biotherapeutics has a 52-week low of $6.70 and a 52-week high of $18.33.

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. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $58.56 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. On average, research analysts predict that Iovance Biotherapeutics will post -1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

IOVA has been the subject of a number of research reports. UBS Group assumed coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $17.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target 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.