Banque Pictet & Cie SA Acquires 54,832 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Banque Pictet & Cie SA raised its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 17.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,591 shares of the biotechnology company’s stock after acquiring an additional 54,832 shares during the quarter. Banque Pictet & Cie SA owned about 0.12% of Iovance Biotherapeutics worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 2,624 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $83,000. Clear Creek Financial Management LLC purchased a new position in shares of Iovance Biotherapeutics during the 4th quarter valued at $91,000. KBC Group NV grew its position in shares of Iovance Biotherapeutics by 105.7% during the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 6,321 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Iovance Biotherapeutics by 48.0% during the 3rd quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 4,167 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IOVA. UBS Group began coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $17.00 price target for the company. Piper Sandler reduced their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Iovance Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Iovance Biotherapeutics Stock Performance

Shares of NASDAQ:IOVA opened at $5.57 on Friday. Iovance Biotherapeutics, Inc. has a 52-week low of $5.05 and a 52-week high of $18.33. The firm has a fifty day moving average of $6.72 and a 200 day moving average of $8.79. The firm has a market capitalization of $1.70 billion, a PE ratio of -3.74 and a beta of 0.53.

Iovance Biotherapeutics Company 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.