Banque Pictet & Cie SA Increases Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Banque Pictet & Cie SA lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 376,591 shares of the biotechnology company's stock after buying an additional 54,832 shares during the period. Banque Pictet & Cie SA owned approximately 0.12% of Iovance Biotherapeutics worth $2,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Choreo LLC raised its position in Iovance Biotherapeutics by 39.5% during the 4th quarter. Choreo LLC now owns 30,445 shares of the biotechnology company's stock worth $218,000 after buying an additional 8,625 shares during the last quarter. Jennison Associates LLC purchased a new position in Iovance Biotherapeutics during the fourth quarter worth about $493,000. China Universal Asset Management Co. Ltd. lifted its position in Iovance Biotherapeutics by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 64,625 shares of the biotechnology company's stock valued at $478,000 after purchasing an additional 6,249 shares during the period. Clear Creek Financial Management LLC purchased a new stake in Iovance Biotherapeutics in the 4th quarter valued at approximately $91,000. Finally, KBC Group NV increased its position in Iovance Biotherapeutics by 105.7% during the 4th quarter. KBC Group NV now owns 12,303 shares of the biotechnology company's stock worth $91,000 after purchasing an additional 6,321 shares during the period. Hedge funds and other institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Stock Performance

NASDAQ:IOVA traded down $0.01 during mid-day trading on Tuesday, hitting $5.56. 5,538,296 shares of the company's stock traded hands, compared to its average volume of 8,527,346. The company has a market cap of $1.69 billion, a PE ratio of -3.73 and a beta of 0.53. The firm's 50 day simple moving average is $6.65 and its 200 day simple moving average is $8.77. Iovance Biotherapeutics, Inc. has a 1 year low of $5.05 and a 1 year high of $18.33.

Analysts Set New Price Targets

IOVA has been the subject of several recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group assumed coverage on Iovance Biotherapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $17.00 target price for the company. Finally, Piper Sandler cut their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a "neutral" rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.69.

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.