Iovance Biotherapeutics Stock Is Surging: Here's Why

Iovance Biotherapeutics Inc IOVA shares are trading higher Monday following recent insider buying from Director Wayne Rothbaum.

What Happened: According to a new regulatory filing, Rothbaum purchased 10 million shares of Iovance stock at an average price of $6.50 per share at the end of last week. The new buy brings his total position to more than 18 million shares. 

Rothbaum's purchase comes just days after several other company directors and executives picked up shares of Iovance stock at prices ranging from $5.98 to $6.31 per share. 

Iovance is a clinical-stage biopharmaceutical company focused on the development and commercialization of cell therapies as novel cancer immunotherapy products designed to use a patient's immune system to eliminate cancer cells.

See Also: $65 Million Bet On Iovance Biotherapeutics? Check Out These 3 Stocks Insiders Are Buying

IOVA Price Action: Iovance has a 52-week high of $20.60 and a. 52-week low of $5.42.

The stock was up 22.7% at $8.39 at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.