IOVA

Iovance Biotherapeutics, Inc.

12.66
USD
6.93%
12.66
USD
6.93%
6.18 27.96
52 weeks
52 weeks

Mkt Cap 1.93B

Shares Out 152.16M

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Why Iovance Stock Leaped 17% Higher Today

What happened Investors often get excited when top officials at a company pile into shares of their business. So it was on Friday with Iovance Biotherapeutics (NASDAQ: IOVA). A flurry of insider buying led to plenty of outsider buying on the market, and pushed the stock's price 17% higher on the day. So what As revealed by Securities and Exchange Commission filings dated Thursday, everyone who is anyone at Iovance, it seems, was hitting the buy button. Wayne Rothbaum, a member of the biotech company's board of directors and the president of healthcare sector investment fund Quogue Capital, disclosed two recent purchases of 500,000 shares of Iovance's common stock. Fellow board members Michael Weiser, Ryan Maynard, and Merrill McPeak also loaded up, with recent buys totaling a respective 10,000; 7,500; and 20,000 common shares. Also signaling confidence in Iovance was interim CEO Frederick Vogt, who bought 1,000 shares. As is typical in such buys, none of these men offered any commentary as to why they made their moves. Regardless, such clear bullishness rarely escapes notice by investors, hence the market's very positive reaction. Now what It's a good time for Iovance bulls -- inside or outside the company -- to pile into the company. The stock price is notably down from its one-year peak of $28 per share, not least because of the news Iovance divulged last week. The company unveiled data from a phase 3 clinical trial of its Lifileucel melanoma treatment. This revealed that a cohort 4 trial of the drug produced an overall response rate of 29% in patients, down from the 35% of the preceding cohort 2. Cases of the disease in cohort 4, however, were more serious. Iovance remains very optimistic about the drug's prospects, and is ready to present it to regulators. The company said that it is aiming to submit a Biologics License Application for Lifileucel to the Food and Drug Administration this August. 10 stocks we like better than Iovance Biotherapeutics, Inc. When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Iovance Biotherapeutics, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of June 2, 2022 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iovance Biotherapeutics, Inc. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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