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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the target of unusually large options trading on Monday. Traders acquired 23,866 call options on the stock. This is an increase of approximately 44% compared to the average daily volume of 16,524 call options.

Analyst Ratings Changes

IOVA has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. JMP Securities raised their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 20th. Barclays boosted their price objective on Iovance Biotherapeutics from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group raised their target price on Iovance Biotherapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Chardan Capital lifted their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $24.64.

Insider Buying and Selling

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak purchased 250,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $9.15 per share, for a total transaction of $2,287,500.00. Following the completion of the acquisition, the director now directly owns 320,150 shares in the company, valued at $2,929,372.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Iovance Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in IOVA. Quadrant Capital Group LLC lifted its stake in shares of Iovance Biotherapeutics by 1,227.8% during the fourth quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 4,678 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $87,000. China Universal Asset Management Co. Ltd. grew its position in shares of Iovance Biotherapeutics by 116.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company’s stock worth $29,000 after buying an additional 3,414 shares during the period. Annandale Capital LLC bought a new stake in shares of Iovance Biotherapeutics during the third quarter worth approximately $32,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Iovance Biotherapeutics by 284.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 5,577 shares during the period. Institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA opened at $13.98 on Wednesday. The company has a market capitalization of $3.91 billion, a P/E ratio of -7.44 and a beta of 0.66. Iovance Biotherapeutics has a one year low of $3.21 and a one year high of $18.33. The business’s 50 day simple moving average is $13.84 and its 200-day simple moving average is $9.70.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The business had revenue of $0.48 million during the quarter, compared to the consensus estimate of $1.44 million. During the same quarter in the prior year, the company posted ($0.64) earnings per share. On average, sell-side analysts anticipate that Iovance Biotherapeutics will post -1.4 EPS for the current fiscal year.

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.