Investors Purchase High Volume of Iovance Biotherapeutics Call Options (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) saw some unusual options trading activity on Friday. Investors purchased 22,531 call options on the company. This represents an increase of approximately 239% compared to the average daily volume of 6,640 call options.

Iovance Biotherapeutics Trading Up 4.2 %

Shares of Iovance Biotherapeutics stock traded up $0.43 during trading on Friday, reaching $10.60. The company’s stock had a trading volume of 4,484,982 shares, compared to its average volume of 7,218,754. The stock has a 50-day moving average price of $10.22 and a two-hundred day moving average price of $10.04. The stock has a market capitalization of $2.97 billion, a P/E ratio of -6.15 and a beta of 0.62. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $31.11 million for the quarter, compared to analyst estimates of $24.59 million. Iovance Biotherapeutics had a negative net margin of 1,343.27% and a negative return on equity of 65.04%. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.47) earnings per share. As a group, sell-side analysts anticipate that Iovance Biotherapeutics will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at about $32,000. Quest Partners LLC boosted its stake in Iovance Biotherapeutics by 1,237.7% in the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 4,629 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Iovance Biotherapeutics during the 1st quarter worth $87,000. EverSource Wealth Advisors LLC bought a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at $58,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Iovance Biotherapeutics by 754.0% in 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 period. 77.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Iovance Biotherapeutics to a “sell” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Piper Sandler lowered Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $10.00 in a research note on Monday, July 29th. Finally, JMP Securities dropped their price objective on Iovance Biotherapeutics from $25.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Iovance Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.