Investors Buy High Volume of Iovance Biotherapeutics Call Options (NASDAQ:IOVA)

Iovance Biotherapeutics Inc (NASDAQ:IOVA) saw unusually large options trading on Wednesday. Stock investors acquired 2,562 call options on the company. This is an increase of 4,100% compared to the average volume of 61 call options.

A number of large investors have recently made changes to their positions in IOVA. Wells Fargo & Company MN lifted its position in shares of Iovance Biotherapeutics by 91.4% during the 3rd quarter. Wells Fargo & Company MN now owns 158,458 shares of the biotechnology company’s stock valued at $1,783,000 after buying an additional 75,671 shares during the last quarter. BlackRock Inc. lifted its position in shares of Iovance Biotherapeutics by 5.7% during the 3rd quarter. BlackRock Inc. now owns 6,653,978 shares of the biotechnology company’s stock valued at $74,858,000 after buying an additional 357,287 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Iovance Biotherapeutics by 144.5% during the 3rd quarter. Trexquant Investment LP now owns 24,732 shares of the biotechnology company’s stock valued at $278,000 after buying an additional 14,618 shares during the last quarter. Credit Suisse AG lifted its holdings in Iovance Biotherapeutics by 51.3% during the 3rd quarter. Credit Suisse AG now owns 1,560,825 shares of the biotechnology company’s stock worth $17,559,000 after purchasing an additional 529,511 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Iovance Biotherapeutics during the 3rd quarter worth about $684,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.

NASDAQ:IOVA traded up $0.08 during trading on Friday, reaching $11.10. The company’s stock had a trading volume of 662,342 shares, compared to its average volume of 1,023,552. The company has a market capitalization of $1.36 billion, a PE ratio of -8.74 and a beta of 1.91. Iovance Biotherapeutics has a 12 month low of $7.26 and a 12 month high of $18.25.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.27). On average, sell-side analysts forecast that Iovance Biotherapeutics will post -1.22 EPS for the current year.

A number of equities analysts have recently weighed in on IOVA shares. ValuEngine raised Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Oppenheimer set a $25.00 target price on Iovance Biotherapeutics and gave the stock a “buy” rating in a research report on Friday, January 11th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price (down from $30.00) on shares of Iovance Biotherapeutics in a research report on Thursday, February 28th. BidaskClub raised Iovance Biotherapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Finally, B. Riley started coverage on Iovance Biotherapeutics in a report on Monday, December 31st. They set a “buy” rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.86.

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About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. The company's lead product candidate is LN-144, an adoptive cell therapy that is in Phase II clinical trial using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients' tumors for the treatment of metastatic melanoma.

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