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

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) saw unusually large options trading activity on Monday. Stock traders acquired 21,102 call options on the company. This is an increase of 159% compared to the average daily volume of 8,163 call options.

Institutional Trading of Iovance Biotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. purchased a new stake in Iovance Biotherapeutics during the third quarter worth approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Iovance Biotherapeutics during the third quarter worth approximately $27,000. WealthTrust Axiom LLC increased its position in Iovance Biotherapeutics by 80.0% during the second quarter. WealthTrust Axiom LLC now owns 18,000 shares of the biotechnology company’s stock worth $31,000 after buying an additional 8,000 shares during the period. Accredited Investors Inc. acquired a new position in Iovance Biotherapeutics during the first quarter worth approximately $33,000. Finally, Federated Hermes Inc. increased its position in Iovance Biotherapeutics by 67.6% during the third quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after buying an additional 6,095 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.

Iovance Biotherapeutics Trading Down 1.0%

Iovance Biotherapeutics stock traded down $0.02 during mid-day trading on Monday, hitting $1.95. The company had a trading volume of 50,906,994 shares, compared to its average volume of 13,334,543. Iovance Biotherapeutics has a 12-month low of $1.64 and a 12-month high of $12.51. The company’s fifty day moving average is $2.22 and its 200-day moving average is $2.31. The company has a market capitalization of $705.62 million, a price-to-earnings ratio of -1.59 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. The business had revenue of $59.95 million for the quarter, compared to analysts’ expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Iovance Biotherapeutics will post -1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IOVA shares. Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Zacks Research upgraded shares of Iovance Biotherapeutics to a “hold” rating in a report on Tuesday, August 12th. The Goldman Sachs Group downgraded shares of Iovance Biotherapeutics from a “neutral” rating to a “sell” rating in a report on Tuesday, July 15th. HC Wainwright reduced their target price on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Wells Fargo & Company reduced their target price on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.80.

Iovance Biotherapeutics Company Profile

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.