Surfkast, I don't think it was a "dump". It looks more like an accumulation of smaller purchases that was delivered to a buyer at the end of the day and/or in the after-hours. Might be a fund accumulating again, it might be a short allowing the MM to accumulate during the day without chasing shares and then delivering after hours, it might just be a private customer with the same deal.
It certainly doesn't look like a single position being sold off or I would expect to see the price down even more than what we got today which was in line with the overall sector. Iovance seemed to actually hold up just a bit better than is typical on a down day like today.
The analysts' target prices are for Iovance over the next year, not the next week or even the next month. We've got to see earnings in the Q2, Q3, and maybe even in Q4 before we really see some upside (meaning something over $20) unless the overall sector turns positive again which will float all boats.
Iovance got a nice bump post approval but then got stuck with the overall sector which has been nothing but down since the high back on Feb 28th. Look at the charts and it becomes very obvious what's been happening. No news means no support when the market turns negative, but IOVA is still trading higher relative to the sector post-approval then it was pre-approval.
My explanation is somewhat lacking, but I hope I'm making the point that nothing seems unusual with that large block trading hands today.
The entire block of 1.6 million shares along with another 400K block traded at $11.89 in the after-hours which seems to fit with my explanation.
IMHO
