Stock Traders Buy Large Volume of Iovance Biotherapeutics Call Options (NASDAQ:IOVA)

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

Analysts Set New Price Targets

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

Iovance Biotherapeutics Trading Up 3.3 %

NASDAQ IOVA traded up $0.27 on Monday, hitting $8.45. 4,555,945 shares of the company traded hands, compared to its average volume of 7,278,264. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -5.49 and a beta of 0.60. The business’s 50 day moving average price is $10.04 and its 200-day moving average price is $9.71. Iovance Biotherapeutics has a 52-week low of $5.14 and a 52-week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. The firm had revenue of $58.56 million for the quarter, compared to analysts’ expectations of $53.54 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts predict that Iovance Biotherapeutics will post -1.25 earnings per share for the current year.

Insider Transactions at Iovance Biotherapeutics

In related news, Director Ryan D. Maynard sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.06, for a total transaction of $503,000.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. 12.10% of the stock is currently owned by insiders.

Institutional Trading of Iovance Biotherapeutics

A number of hedge funds have recently bought and sold shares of IOVA. ORG Partners LLC purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at $32,000. Quest Partners LLC lifted its holdings in shares of 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 purchasing an additional 4,629 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at $58,000. Daiwa Securities Group Inc. lifted its holdings in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after purchasing 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 2nd quarter valued at $82,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

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.