Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report) saw unusually large options trading on Monday. Traders purchased 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.
Insiders Place Their Bets
In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak purchased 250,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the purchase, the director now directly owns 320,150 shares in the company, valued at approximately $2,929,372.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.40% of the stock is owned by insiders.
Hedge Funds Weigh In On Iovance Biotherapeutics
A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Iovance Biotherapeutics by 1,227.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,059 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 4,678 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Iovance Biotherapeutics during the first quarter worth about $87,000. China Universal Asset Management Co. Ltd. increased its position in Iovance Biotherapeutics by 116.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 3,414 shares during the period. Annandale Capital LLC purchased a new stake in Iovance Biotherapeutics during the 3rd quarter valued at approximately $32,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Iovance Biotherapeutics by 284.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,541 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 5,577 shares during the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.
Iovance Biotherapeutics Stock Up 1.8 %
IOVA traded up $0.25 on Monday, reaching $13.88. The company had a trading volume of 4,861,362 shares, compared to its average volume of 8,152,441. The stock has a 50-day moving average price of $13.91 and a 200-day moving average price of $9.63. The stock has a market capitalization of $3.88 billion, a PE ratio of -7.38 and a beta of 0.66. Iovance Biotherapeutics has a 1 year low of $3.21 and a 1 year high of $18.33.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The company had revenue of $0.48 million during the quarter, compared to analysts' expectations of $1.44 million. During the same period in the previous year, the business posted ($0.64) earnings per share. As a group, analysts expect that Iovance Biotherapeutics will post -1.4 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Chardan Capital raised their price target on Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a report on Friday, February 2nd. The Goldman Sachs Group raised their price target on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company boosted their price objective on Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.64.
View Our Latest Report on Iovance Biotherapeutics
About Iovance Biotherapeutics
(
Get Free Report)
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.
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