Iovance Biotherapeutics, Inc. (NASDAQ:IOVA – Get Free Report) saw some unusual options trading on Thursday. Investors acquired 3,690 call options on the stock. This represents an increase of 52% compared to the typical volume of 2,435 call options.
Iovance Biotherapeutics Price Performance
Shares of IOVA stock opened at $7.76 on Friday. The company has a fifty day moving average price of $7.87 and a two-hundred day moving average price of $7.03. The stock has a market cap of $1.74 billion, a P/E ratio of -3.23 and a beta of 0.11. Iovance Biotherapeutics has a one year low of $5.28 and a one year high of $13.44.
Iovance Biotherapeutics (NASDAQ:IOVA – Get Free Report) last released its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.34. During the same quarter in the prior year, the business earned ($0.58) earnings per share. As a group, equities research analysts anticipate that Iovance Biotherapeutics will post -2.4 EPS for the current fiscal year.
Institutional Investors Weigh In On Iovance Biotherapeutics
A number of institutional investors have recently modified their holdings of IOVA. Assetmark Inc. increased its stake in shares of Iovance Biotherapeutics by 299.5% in the first quarter. Assetmark Inc. now owns 4,223 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 3,166 shares in the last quarter. US Bancorp DE raised its stake in shares of Iovance Biotherapeutics by 72.7% during the first quarter. US Bancorp DE now owns 5,591 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 2,354 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Iovance Biotherapeutics by 54.5% in the third quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,787 shares during the period. Systematic Financial Management LP bought a new stake in shares of Iovance Biotherapeutics during the 1st quarter valued at $48,000. Finally, Lazard Asset Management LLC boosted its stake in Iovance Biotherapeutics by 38.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 934 shares in the last quarter. 89.80% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on IOVA. Wells Fargo & Company raised shares of Iovance Biotherapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $17.00 in a report on Tuesday, May 30th. Robert W. Baird boosted their price target on shares of Iovance Biotherapeutics from $20.00 to $23.00 in a report on Tuesday, May 23rd. Stifel Nicolaus boosted their target price on shares of Iovance Biotherapeutics from $21.00 to $24.00 in a research report on Tuesday, May 30th. Finally, StockNews.com upgraded shares of Iovance Biotherapeutics from a “sell” rating to a “hold” rating in a report on Sunday, July 9th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.09.
Iovance Biotherapeutics Company Profile
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 lifileucel that is in Phase II clinical trial for the treatment of metastatic melanoma and cervical cancer.
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