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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders acquired 20,884 call options on the stock. This is an increase of 94% compared to the typical volume of 10,787 call options.

Iovance Biotherapeutics Trading Down 3.0 %

IOVA stock traded down $0.12 during mid-day trading on Tuesday, hitting $3.92. 18,566,777 shares of the company were exchanged, compared to its average volume of 10,108,283. Iovance Biotherapeutics has a 1-year low of $3.62 and a 1-year high of $17.64. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.63 and a beta of 0.53. The business has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $8.50.

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

Institutional Investors Weigh In On Iovance Biotherapeutics

Institutional investors have recently modified their holdings of the business. Creative Planning increased its position in Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company's stock worth $690,000 after acquiring an additional 1,896 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position 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 purchasing an additional 2,624 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company's stock worth $15,767,000 after purchasing an additional 43,132 shares during the period. Creative Financial Designs Inc. ADV increased its holdings 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 raised its position in shares of Iovance Biotherapeutics by 142.3% in the third quarter. Farther Finance Advisors LLC now owns 15,389 shares of the biotechnology company's stock valued at $145,000 after buying an additional 9,037 shares in the last quarter. Institutional investors own 77.03% of the company's stock.

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Analysts Set New Price Targets

Several research firms have issued reports on IOVA. Truist Financial dropped their price target on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday. The Goldman Sachs Group dropped their target price on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Monday. Robert W. Baird cut 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 note on Friday. Chardan Capital lowered their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics has an average rating of "Moderate Buy" and a consensus target price of $20.25.

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.