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

Parametrica Management Ltd lifted its holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 235.7% during the 4th quarter, according to 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 purchasing an additional 224,876 shares during the period. Iovance Biotherapeutics comprises 4.3% of Parametrica Management Ltd’s holdings, making the stock its 6th biggest holding. Parametrica Management Ltd owned about 0.13% of Iovance Biotherapeutics worth $2,604,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IOVA. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 worth $29,000 after purchasing an additional 3,414 shares during the last quarter. Annandale Capital LLC acquired a new stake in shares of Iovance Biotherapeutics during the third quarter valued at approximately $32,000. Clear Street Markets LLC acquired a new stake in shares of Iovance Biotherapeutics during the third quarter valued at approximately $35,000. AE Wealth Management LLC acquired a new stake in shares of Iovance Biotherapeutics during the third quarter valued at approximately $48,000. Finally, Pathstone Family Office LLC acquired a new stake in Iovance Biotherapeutics during the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ IOVA traded up $0.10 during mid-day trading on Friday, reaching $11.64. The company had a trading volume of 2,489,561 shares, compared to its average volume of 4,043,614. Iovance Biotherapeutics, Inc. has a twelve month low of $3.21 and a twelve month high of $18.33. The stock has a market capitalization of $3.25 billion, a PE ratio of -6.19 and a beta of 0.62. The stock’s 50 day moving average is $14.08 and its 200-day moving average is $9.20.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.01). The firm had revenue of $0.48 million for the quarter, compared to analyst estimates of $1.44 million. During the same quarter in the previous year, the business earned ($0.64) earnings per share. On average, sell-side analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler increased their target price on Iovance Biotherapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. The Goldman Sachs Group increased their target price on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company increased their target price on Iovance Biotherapeutics from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Chardan Capital increased their target price on Iovance Biotherapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a “sell” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.64.

Insiders Place Their Bets

In other Iovance Biotherapeutics news, Director Merrill A. Mcpeak bought 250,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $9.15 per share, with a total value of $2,287,500.00. Following the completion of the transaction, the director now directly owns 320,150 shares of the company’s stock, valued at approximately $2,929,372.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.40% of the company’s stock.

About Iovance Biotherapeutics

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.