Does blood come out of a man's penis while ejection and when he loses his Virginity?

Not normally, no.

While it is not normal if there are no other symptoms such as testicular swelling or masses or pain or discomfort with peeing it is probably harmless and self limited.

If there is any discomfort, pain with peeing or ejaculating, strange selling in the scrotum or if it does not go away on its own then it should be evaluated by a doctor.