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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 53,990,000 shares, a drop of 9.6% from the October 31st total of 59,730,000 shares. Based on an average daily volume of 6,290,000 shares, the short-interest ratio is presently 8.6 days. Currently, 21.9% of the shares of the company are short sold.

Analyst Ratings Changes

IOVA has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. StockNews.com raised Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. Finally, UBS Group started coverage on Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. One research 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, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Trading Down 2.7 %

NASDAQ:IOVA traded down $0.25 on Monday, hitting $9.07. The company had a trading volume of 4,515,350 shares, compared to its average volume of 7,292,093. Iovance Biotherapeutics has a 52 week low of $6.00 and a 52 week high of $18.33. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -6.25 and a beta of 0.60. The firm has a 50 day moving average of $9.82 and a two-hundred day moving average of $9.45.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings data 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. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The company had revenue of $58.56 million for the quarter, compared to the consensus estimate of $53.54 million. During the same quarter last year, the business posted ($0.46) EPS. As a group, equities analysts forecast that Iovance Biotherapeutics will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of Iovance Biotherapeutics 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 sale, the director now owns 7,500 shares in the company, valued at $75,450. The trade was a 86.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently modified their holdings of IOVA. Franklin Resources Inc. raised its position in shares of Iovance Biotherapeutics by 9.2% during the third quarter. Franklin Resources Inc. now owns 100,229 shares of the biotechnology company’s stock worth $979,000 after acquiring an additional 8,470 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in Iovance Biotherapeutics during the third quarter worth $188,000. Barclays PLC lifted its holdings in Iovance Biotherapeutics by 118.8% in the third quarter. Barclays PLC now owns 604,584 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 328,284 shares during the period. Wellington Management Group LLP boosted its position in Iovance Biotherapeutics by 10.3% during the third quarter. Wellington Management Group LLP now owns 129,482 shares of the biotechnology company’s stock valued at $1,216,000 after acquiring an additional 12,064 shares during the last quarter. Finally, State Street Corp grew its holdings in Iovance Biotherapeutics by 4.6% during the 3rd quarter. State Street Corp now owns 13,201,978 shares of the biotechnology company’s stock worth $123,967,000 after acquiring an additional 576,801 shares during the period. 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.