Banque Pictet & Cie SA Purchases 99,636 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Banque Pictet & Cie SA increased its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,794 shares of the biotechnology company's stock after purchasing an additional 99,636 shares during the quarter. Banque Pictet & Cie SA owned 0.25% of Iovance Biotherapeutics worth $2,884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC lifted its position in Iovance Biotherapeutics by 38.5% during the first quarter. Lazard Asset Management LLC now owns 3,357 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 934 shares during the period. MetLife Investment Management LLC bought a new stake in Iovance Biotherapeutics during the first quarter worth about $83,000. Royal Bank of Canada lifted its position in Iovance Biotherapeutics by 54.5% during the third quarter. Royal Bank of Canada now owns 5,066 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 1,787 shares during the period. Quantbot Technologies LP bought a new stake in Iovance Biotherapeutics during the first quarter worth about $96,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Iovance Biotherapeutics by 116.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,356 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 3,414 shares during the period. Institutional investors own 81.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IOVA shares. Chardan Capital increased their target price on shares of Iovance Biotherapeutics from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, February 20th. Piper Sandler increased their target price on shares of Iovance Biotherapeutics from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. StockNews.com raised shares of Iovance Biotherapeutics to a "sell" rating in a report on Friday, February 2nd. Truist Financial reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Iovance Biotherapeutics in a research note on Wednesday, December 27th. Finally, The Goldman Sachs Group upped their price objective on Iovance Biotherapeutics from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.55.

Insider Buying and Selling at Iovance Biotherapeutics

In related news, Director Merrill A. Mcpeak acquired 250,000 shares of Iovance Biotherapeutics stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $9.15 per share, with a total value of $2,287,500.00. Following the transaction, the director now directly owns 320,150 shares in the company, valued at approximately $2,929,372.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.40% of the company's stock.

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $14.72 on Wednesday. The company has a 50 day simple moving average of $10.93 and a two-hundred day simple moving average of $7.35. Iovance Biotherapeutics, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $18.33.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Wednesday, February 28th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.01). The business had revenue of $0.48 million for the quarter, compared to analyst estimates of $1.44 million. During the same period in the previous year, the company earned ($0.64) earnings per share. As a group, equities research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.41 earnings per share for the current year.

Iovance Biotherapeutics 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. 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.

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