QVT Financial LP Purchases 463,486 Shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA)

QVT Financial LP grew its stake in shares of Iovance Biotherapeutics Inc (NASDAQ:IOVA) by 70.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,124,295 shares of the biotechnology company’s stock after purchasing an additional 463,486 shares during the period. Iovance Biotherapeutics makes up about 0.5% of QVT Financial LP’s holdings, making the stock its 26th largest position. QVT Financial LP owned about 1.32% of Iovance Biotherapeutics worth $8,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Orbimed Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 89.9% during the 3rd quarter. Orbimed Advisors LLC now owns 6,425,626 shares of the biotechnology company’s stock worth $49,799,000 after purchasing an additional 3,042,726 shares in the last quarter. BlackRock Inc. boosted its position in shares of Iovance Biotherapeutics by 9.0% during the 4th quarter. BlackRock Inc. now owns 4,864,841 shares of the biotechnology company’s stock worth $38,918,000 after purchasing an additional 401,743 shares in the last quarter. Perceptive Advisors LLC boosted its position in shares of Iovance Biotherapeutics by 8.3% during the 3rd quarter. Perceptive Advisors LLC now owns 4,726,114 shares of the biotechnology company’s stock worth $36,627,000 after purchasing an additional 363,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Iovance Biotherapeutics by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,638,323 shares of the biotechnology company’s stock worth $20,447,000 after purchasing an additional 51,450 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter worth $16,113,000. Institutional investors own 64.44% of the company’s stock.

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Several equities research analysts have commented on IOVA shares. Wells Fargo reiterated a “buy” rating and issued a $23.00 price objective on shares of Iovance Biotherapeutics in a research report on Monday, January 29th. Jefferies Group boosted their price objective on shares of Iovance Biotherapeutics to $31.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. B. Riley reiterated a “buy” rating and issued a $18.00 price objective on shares of Iovance Biotherapeutics in a research report on Thursday, January 25th. Oppenheimer boosted their price objective on shares of Iovance Biotherapeutics from $13.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded shares of Iovance Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.72.

NASDAQ:IOVA traded down $1.25 on Monday, reaching $15.65. The stock had a trading volume of 737,880 shares, compared to its average volume of 1,147,610. The firm has a market cap of $1,511.63, a price-to-earnings ratio of -11.10 and a beta of 5.74. Iovance Biotherapeutics Inc has a 12-month low of $4.45 and a 12-month high of $19.90.

Iovance Biotherapeutics (NASDAQ:IOVA) last released its earnings results on Monday, March 12th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.04). equities analysts predict that Iovance Biotherapeutics Inc will post -1.25 earnings per share for the current year.

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About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma.

Institutional Ownership by Quarter for Iovance Biotherapeutics (NASDAQ:IOVA)

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