Iovance Biotherapeutics Sees Unusually High Options Volume (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 21,357 call options on the stock. This represents an increase of 75% compared to the typical daily volume of 12,229 call options.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ IOVA traded up $0.15 during midday trading on Thursday, hitting $10.03. The company’s stock had a trading volume of 19,755,348 shares, compared to its average volume of 15,486,382. The business’s fifty day simple moving average is $6.65 and its two-hundred day simple moving average is $4.86. Iovance Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $10.98. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -13.77 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $99.31 million for the quarter, compared to the consensus estimate of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm’s revenue for the quarter was up 65.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. Analysts anticipate that Iovance Biotherapeutics will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IOVA. UBS Group lifted their price target on shares of Iovance Biotherapeutics from $4.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Barclays increased their price objective on shares of Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday. Citizens Jmp boosted their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Citigroup restated an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Finally, Robert W. Baird set a $6.00 price target on Iovance Biotherapeutics in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.11.

Institutional Trading of Iovance Biotherapeutics

Hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new position in Iovance Biotherapeutics during the 1st quarter worth $34,000. Sanctuary Advisors LLC purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $38,000. Fifth Third Bancorp purchased a new position in shares of Iovance Biotherapeutics in the 1st quarter valued at about $39,000. Ceera Investments LLC acquired a new position in shares of Iovance Biotherapeutics during the first quarter worth about $44,000. Finally, First National Bank & Trust Co. of Newtown purchased a new stake in shares of Iovance Biotherapeutics during the second quarter worth approximately $51,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.