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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 22,531 call options on the company. This is an increase of 239% compared to the average daily volume of 6,640 call options.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ORG Partners LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth about $32,000. Quest Partners LLC grew its stake in Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company’s stock worth $40,000 after buying an additional 4,629 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Iovance Biotherapeutics during the first quarter worth about $87,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Iovance Biotherapeutics during the second quarter worth approximately $58,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Iovance Biotherapeutics by 754.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 7,781 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Up 0.7 %

NASDAQ:IOVA opened at $10.24 on Friday. The firm has a market capitalization of $2.87 billion, a PE ratio of -5.69 and a beta of 0.62. Iovance Biotherapeutics has a 12-month low of $3.21 and a 12-month high of $18.33. The firm has a 50-day moving average price of $10.27 and a 200 day moving average price of $10.01.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued 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 business had revenue of $31.11 million during the quarter, compared to analysts’ expectations of $24.59 million. Iovance Biotherapeutics had a negative return on equity of 65.04% and a negative net margin of 1,343.27%. Iovance Biotherapeutics’s quarterly revenue was up 12969.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) EPS. On average, research analysts expect that Iovance Biotherapeutics will post -1.26 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on IOVA shares. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Monday, August 12th. Piper Sandler downgraded Iovance Biotherapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $10.00 in a research report on Monday, July 29th. Finally, StockNews.com raised 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 given a hold rating and seven have given a buy rating to the company. Based on data from 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.