Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Sees Large Decrease in Short Interest

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 53,990,000 shares, a decline of 9.6% from the October 31st total of 59,730,000 shares. Approximately 21.9% of the company’s stock are short sold. Based on an average trading volume of 6,290,000 shares, the short-interest ratio is presently 8.6 days.

Iovance Biotherapeutics Trading Down 2.7 %

NASDAQ:IOVA traded down $0.25 during trading hours on Monday, hitting $9.07. 4,515,350 shares of the company traded hands, compared to its average volume of 7,292,093. Iovance Biotherapeutics has a twelve month low of $6.00 and a twelve month high of $18.33. The firm has a 50-day moving average of $9.82 and a 200 day moving average of $9.45. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -6.25 and a beta of 0.60.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced 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. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The business had revenue of $58.56 million during the quarter, compared to analyst estimates of $53.54 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. Equities research analysts predict that Iovance Biotherapeutics will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. HC Wainwright reiterated a “buy” rating and set 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 issued a “buy” rating and a $17.00 target price on the stock. Finally, StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Insiders Place Their Bets

In other news, Director Ryan D. Maynard sold 50,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.10% of the company’s stock.

Institutional Trading of Iovance Biotherapeutics

Institutional investors have recently modified their holdings of the company. XML Financial LLC raised its stake in shares of Iovance Biotherapeutics by 7.4% in the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,000 shares in the last quarter. Saturna Capital Corp raised its holdings in shares of Iovance Biotherapeutics by 7.0% in the 3rd quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,353 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Iovance Biotherapeutics by 9.5% in the 2nd quarter. Diversified Trust Co now owns 16,980 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,469 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Iovance Biotherapeutics by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after buying an additional 1,776 shares during the period. Finally, Xponance Inc. grew its position in Iovance Biotherapeutics by 13.0% in the second quarter. Xponance Inc. now owns 16,279 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 1,873 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.