Principal Financial Group Inc. Has $6.54 Million Stake in Iovance Biotherapeutics, Inc. $IOVA

Principal Financial Group Inc. reduced its position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 34.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,013,753 shares of the biotechnology company’s stock after selling 1,587,688 shares during the quarter. Principal Financial Group Inc.’s holdings in Iovance Biotherapeutics were worth $6,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IOVA. Raymond James Financial Inc. increased its position in Iovance Biotherapeutics by 1.4% during the 2nd quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after buying an additional 4,618 shares during the period. Flputnam Investment Management Co. boosted its position in shares of Iovance Biotherapeutics by 35.4% in the third quarter. Flputnam Investment Management Co. now owns 20,289 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 5,300 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in shares of Iovance Biotherapeutics by 14.6% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 43,345 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 5,506 shares in the last quarter. Carnegie Investment Counsel increased its position in Iovance Biotherapeutics by 19.4% during the third quarter. Carnegie Investment Counsel now owns 37,000 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 6,000 shares during the period. Finally, Federated Hermes Inc. increased its position in Iovance Biotherapeutics by 67.6% during the third quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 6,095 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Trading Up 2.2%

Shares of Iovance Biotherapeutics stock opened at $2.58 on Friday. The company has a market cap of $1.02 billion, a PE ratio of -2.15 and a beta of 0.76. The company has a 50 day moving average of $2.55 and a 200-day moving average of $2.39. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $6.09.

Analyst Ratings Changes

A number of research firms have issued reports on IOVA. HC Wainwright cut their price objective on shares of Iovance Biotherapeutics from $20.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Chardan Capital dropped their price target on shares of Iovance Biotherapeutics from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $2.00 price target on shares of Iovance Biotherapeutics in a research note on Thursday, February 5th. Finally, Barclays raised their price objective on Iovance Biotherapeutics from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics, Inc is a clinical‐stage biotechnology company specializing in the development and commercialization of tumor‐infiltrating lymphocyte (TIL) immunotherapies for the treatment of solid tumors. The company’s lead product candidate, lifileucel (formerly LN‐144), is an autologous TIL therapy in late‐stage clinical development for patients with advanced melanoma. Iovance’s pipeline also includes next‐generation TIL programs such as LN‐145 for cervical and other human papillomavirus (HPV)‐related cancers, as well as exploratory studies in head and neck, non‐small cell lung, gastric and other solid tumor indications.

Iovance’s TIL platform harnesses a patient’s own immune system by isolating, expanding and reinfusing tumor‐reactive lymphocytes.