Iovance Biotherapeutics Target of Unusually High Options Trading (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of unusually large options trading on Monday. Stock traders acquired 17,736 call options on the stock. This represents an increase of 71% compared to the average daily volume of 10,367 call options.

Analysts Set New Price Targets

A number of analysts recently issued reports on IOVA shares. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $10.00 in a report on Monday, July 29th. StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research note on Wednesday, November 6th. Finally, UBS Group began coverage on shares of Iovance Biotherapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock opened at $8.43 on Tuesday. The company has a market cap of $2.57 billion, a P/E ratio of -5.66 and a beta of 0.60. The stock’s 50-day moving average is $10.02 and its 200 day moving average is $9.68. Iovance Biotherapeutics has a 1-year low of $5.14 and a 1-year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. During the same period last year, the business earned ($0.46) EPS. On average, analysts anticipate that Iovance Biotherapeutics will post -1.25 EPS for the current year.

Insider Transactions at Iovance Biotherapeutics

In other Iovance Biotherapeutics news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at $75,450. This represents a 86.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Iovance Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at $32,000. Quest Partners LLC increased its position in Iovance Biotherapeutics by 1,237.7% during the 2nd quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Iovance Biotherapeutics in the second quarter valued at about $58,000. Daiwa Securities Group Inc. raised its stake in Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 7,781 shares during the last quarter. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth about $82,000. 77.03% of the stock is owned by hedge funds and other institutional investors.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.