Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Shares Acquired by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG increased its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,318 shares of the biotechnology company’s stock after acquiring an additional 1,950 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Iovance Biotherapeutics were worth $158,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. XML Financial LLC grew its stake in Iovance Biotherapeutics by 7.4% during the third quarter. XML Financial LLC now owns 14,500 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,000 shares during the period. Saturna Capital Corp grew its stake in Iovance Biotherapeutics by 7.0% during the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,353 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Iovance Biotherapeutics by 11.6% during the third quarter. Exchange Traded Concepts LLC now owns 17,071 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 1,776 shares in the last quarter. Creative Planning lifted its position in shares of Iovance Biotherapeutics by 2.6% during the third quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 1,896 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 2,624 shares in the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Iovance Biotherapeutics Price Performance

IOVA opened at $5.57 on Friday. The stock has a market capitalization of $1.70 billion, a PE ratio of -3.74 and a beta of 0.53. The firm’s fifty day moving average price is $6.72 and its 200 day moving average price is $8.78. Iovance Biotherapeutics, Inc. has a 12-month low of $5.05 and a 12-month high of $18.33.

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.