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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of some unusual options trading activity on Friday. Traders bought 22,531 call options on the stock. This represents an increase of 239% compared to the typical daily volume of 6,640 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler cut shares of 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. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Iovance Biotherapeutics to a “sell” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

Iovance Biotherapeutics Price Performance

Iovance Biotherapeutics stock opened at $10.24 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -5.69 and a beta of 0.62. Iovance Biotherapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $18.33. The firm has a fifty day moving average price of $10.27 and a two-hundred day moving average price of $10.04.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $31.11 million during 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%. The business’s revenue was up 12969.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at about $148,000. Vontobel Holding Ltd. raised its position in shares of Iovance Biotherapeutics by 32.5% during the third quarter. Vontobel Holding Ltd. now owns 18,940 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 4,647 shares during the last quarter. Creative Planning raised its position in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 1,896 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the third quarter valued at about $89,000. Finally, Shaker Investments LLC OH raised its position in shares of Iovance Biotherapeutics by 27.7% during the third quarter. Shaker Investments LLC OH now owns 100,712 shares of the biotechnology company’s stock valued at $946,000 after buying an additional 21,859 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

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.