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

Principal Financial Group Inc. cut its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 34.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,013,753 shares of the biotechnology company’s stock after selling 1,587,688 shares during the quarter. Principal Financial Group Inc. owned approximately 0.83% of Iovance Biotherapeutics worth $6,540,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in Iovance Biotherapeutics by 1.4% during the second quarter. Raymond James Financial Inc. now owns 324,098 shares of the biotechnology company’s stock worth $557,000 after acquiring an additional 4,618 shares in the last quarter. Flputnam Investment Management Co. grew its stake in 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 purchasing an additional 5,300 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC increased its position in shares of Iovance Biotherapeutics by 14.6% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 43,345 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 5,506 shares during the last quarter. Carnegie Investment Counsel increased its position in shares of Iovance Biotherapeutics by 19.4% during the 3rd quarter. Carnegie Investment Counsel now owns 37,000 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Iovance Biotherapeutics by 67.6% during the 3rd quarter. Federated Hermes Inc. now owns 15,111 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 6,095 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Iovance Biotherapeutics Price Performance

NASDAQ:IOVA opened at $2.58 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -2.15 and a beta of 0.76. The firm’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $2.39. Iovance Biotherapeutics, Inc. has a one year low of $1.64 and a one year high of $6.09.

Iovance Biotherapeutics Company 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.