Insider Buying: Iovance Biotherapeutics Inc (IOVA) Director Acquires 921,053 Shares of Stock
Iovance Biotherapeutics Inc (NASDAQ:IOVA) Director Wayne P. Rothbaum acquired 921,053 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was purchased at an average cost of $10.31 per share, for a total transaction of $9,496,056.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of IOVA traded down $0.98 during trading hours on Friday, hitting $8.97. 721,200 shares of the company were exchanged, compared to its average volume of 1,195,639. The firm has a market cap of $1.22 billion, a P/E ratio of -6.36 and a beta of 2.74. Iovance Biotherapeutics Inc has a fifty-two week low of $7.85 and a fifty-two week high of $19.90.
Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.03). As a group, equities analysts anticipate that Iovance Biotherapeutics Inc will post -1.29 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IOVA. Trexquant Investment LP acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth $129,000. Amalgamated Bank acquired a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Iovance Biotherapeutics by 61.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,918 shares of the biotechnology company’s stock worth $178,000 after purchasing an additional 5,318 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Iovance Biotherapeutics by 31.0% during the 2nd quarter. United Services Automobile Association now owns 14,493 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 3,431 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in shares of Iovance Biotherapeutics during the 3rd quarter worth $281,000. 73.46% of the stock is currently owned by institutional investors.
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Iovance Biotherapeutics Company Profile
Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.
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