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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of unusually large options trading activity on Friday. Stock traders acquired 20,884 call options on the company. This is an increase of approximately 94% compared to the typical daily volume of 10,787 call options.

Iovance Biotherapeutics Trading Down 19.4 %

Shares of NASDAQ:IOVA opened at $4.24 on Friday. Iovance Biotherapeutics has a twelve month low of $3.62 and a twelve month high of $18.24. The firm has a market cap of $1.29 billion, a P/E ratio of -2.85 and a beta of 0.53. The company has a 50 day moving average of $6.27 and a 200-day moving average of $8.62.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The firm had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. Equities research analysts forecast that Iovance Biotherapeutics will post -1.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on IOVA shares. Robert W. Baird decreased their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday. Piper Sandler reduced their price objective on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Iovance Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in IOVA. Creative Planning grew its position in Iovance Biotherapeutics by 2.6% in the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after buying an additional 1,896 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 2,624 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock worth $15,767,000 after acquiring an additional 43,132 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Iovance Biotherapeutics by 59.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 8,090 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Iovance Biotherapeutics by 142.3% during the third quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 9,037 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Company Profile

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.