Pictet Asset Management Holding SA Purchases 373,491 Shares of Iovance Biotherapeutics, Inc. $IOVA

Pictet Asset Management Holding SA grew its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 867.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,539 shares of the biotechnology company’s stock after buying an additional 373,491 shares during the period. Pictet Asset Management Holding SA owned 0.09% of Iovance Biotherapeutics worth $6,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Iovance Biotherapeutics during the 2nd quarter valued at approximately $153,744,000. Palo Alto Investors LP acquired a new stake in Iovance Biotherapeutics during the second quarter worth $22,032,229. Bank of America Corp DE acquired a new stake in Iovance Biotherapeutics during the second quarter worth $20,773,000. Knott David M Jr purchased a new stake in Iovance Biotherapeutics in the first quarter valued at $5,616,000. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $6,406,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

Iovance Biotherapeutics Trading Up 1.7%

NASDAQ:IOVA traded up $0.13 during mid-day trading on Friday, hitting $7.76. The stock had a trading volume of 11,673,104 shares, compared to its average volume of 15,424,362. Iovance Biotherapeutics, Inc. has a twelve month low of $2.08 and a twelve month high of $15.37. The stock has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $6.10. The company has a market capitalization of $3.59 billion, a PE ratio of -14.64 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. Iovance Biotherapeutics had a negative net margin of 58.20% and a negative return on equity of 29.71%. The company had revenue of $121.47 million during the quarter, compared to analysts’ expectations of $115.98 million. The business’s revenue for the quarter was up 64.8% compared to the same quarter last year. Sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on IOVA. Mizuho raised their price target on Iovance Biotherapeutics from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Robert W. Baird lifted their price objective on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. The Goldman Sachs Group began coverage on shares of Iovance Biotherapeutics in a report on Thursday, September 24th. They set a “buy” rating and a $15.00 target price on the stock. Finally, UBS Group raised their price target on shares of Iovance Biotherapeutics from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $13.80.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics is a biotechnology company focused on developing and commercializing personalized cell therapies for cancer. Its approach uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, which are expanded in a laboratory and returned to the patient. The company’s lead product, Amtagvi (lifileucel), is a TIL therapy approved in the United States for certain adults with unresectable or metastatic melanoma previously treated with specified therapies.