Iovance Biotherapeutics, Inc. $IOVA Stock: Pictet Asset Management Holding SA Grows Position

Pictet Asset Management Holding SA lifted its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 867.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 416,539 shares of the biotechnology company’s stock after acquiring an additional 373,491 shares during the period. Pictet Asset Management Holding SA’s holdings in Iovance Biotherapeutics were worth $6,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Iovance Biotherapeutics in the second quarter valued at approximately $153,744,000. Palo Alto Investors LP acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $22,032,229. Bank of America Corp DE acquired a new position in shares of Iovance Biotherapeutics in the 2nd quarter valued at $20,773,000. Mirador Capital Partners LP grew its position in shares of Iovance Biotherapeutics by 1.4% in the 3rd quarter. Mirador Capital Partners LP now owns 1,095,740 shares of the biotechnology company’s stock valued at $16,239,000 after buying an additional 15,452 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Iovance Biotherapeutics by 71.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,645,702 shares of the biotechnology company’s stock worth $9,282,000 after acquiring an additional 1,106,592 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Wall Street Analysts Forecast Growth

IOVA has been the subject of a number of research reports. Zacks Research raised shares of Iovance Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. HC Wainwright raised their price target on Iovance Biotherapeutics from $9.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. The Goldman Sachs Group started coverage on shares of Iovance Biotherapeutics in a report on Thursday, September 24th. They issued a “buy” rating and a $15.00 target price on the stock. Robert W. Baird upped their price target on shares of Iovance Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Finally, Barclays increased their price target on shares of Iovance Biotherapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.80.

Iovance Biotherapeutics Trading Up 1.7%

Shares of NASDAQ IOVA traded up $0.13 during midday trading on Friday, reaching $7.76. 11,673,104 shares of the company were exchanged, compared to its average volume of 15,424,362. The stock has a market cap of $3.59 billion, a P/E ratio of -14.64 and a beta of 0.88. Iovance Biotherapeutics, Inc. has a 1 year low of $2.08 and a 1 year high of $15.37. The stock has a fifty day simple moving average of $11.33 and a 200 day simple moving average of $6.10.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The firm had revenue of $121.47 million during the quarter, compared to the consensus estimate of $115.98 million. Iovance Biotherapeutics had a negative return on equity of 29.71% and a negative net margin of 58.20%. The firm’s quarterly revenue was up 64.8% on a year-over-year basis. As a group, analysts forecast that Iovance Biotherapeutics, Inc. will post -0.41 earnings per share for the current year.

About Iovance Biotherapeutics

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.