Parametrica Management Ltd Buys 224,876 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Parametrica Management Ltd boosted its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 235.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,276 shares of the biotechnology company's stock after acquiring an additional 224,876 shares during the period. Iovance Biotherapeutics accounts for 4.3% of Parametrica Management Ltd's investment portfolio, making the stock its 6th biggest holding. Parametrica Management Ltd owned approximately 0.13% of Iovance Biotherapeutics worth $2,604,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co increased its position in Iovance Biotherapeutics by 12.3% during the fourth quarter. Diversified Trust Co now owns 13,512 shares of the biotechnology company's stock worth $110,000 after acquiring an additional 1,481 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Iovance Biotherapeutics by 116.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company's stock valued at $29,000 after buying an additional 3,414 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Iovance Biotherapeutics by 23.5% during the third quarter. Exchange Traded Concepts LLC now owns 19,857 shares of the biotechnology company's stock valued at $90,000 after buying an additional 3,777 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Iovance Biotherapeutics by 29.7% in the fourth quarter. Raymond James & Associates now owns 16,910 shares of the biotechnology company's stock valued at $137,000 after buying an additional 3,868 shares during the period. Finally, Victory Capital Management Inc. grew its position in Iovance Biotherapeutics by 21.1% during the third quarter. Victory Capital Management Inc. now owns 22,598 shares of the biotechnology company's stock worth $103,000 after buying an additional 3,937 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Stock Up 0.9 %

IOVA traded up $0.10 during trading on Friday, hitting $11.64. The company's stock had a trading volume of 2,489,561 shares, compared to its average volume of 4,043,614. The firm's 50 day moving average price is $14.08 and its two-hundred day moving average price is $9.20. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -6.19 and a beta of 0.62. Iovance Biotherapeutics, Inc. has a 12 month low of $3.21 and a 12 month high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly 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 analyst estimates of $1.44 million. During the same period last year, the company earned ($0.64) earnings per share. On average, sell-side analysts forecast that Iovance Biotherapeutics, Inc. will post -1.4 earnings per share for the current year.

Insider Activity at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $9.15 per share, for a total transaction of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares of the company's stock, valued at approximately $2,929,372.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on IOVA shares. JMP Securities raised their price objective on Iovance Biotherapeutics from $18.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 20th. Wells Fargo & Company lifted their price target on shares of Iovance Biotherapeutics from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Piper Sandler increased their price objective on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, March 14th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price objective on shares of Iovance Biotherapeutics in a report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their target price on shares of Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.64.

Iovance Biotherapeutics 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.