Principal Financial Group Inc. Reduces Holdings in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Principal Financial Group Inc. trimmed its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,646,787 shares of the biotechnology company’s stock after selling 386,397 shares during the period. Principal Financial Group Inc. owned 1.20% of Iovance Biotherapeutics worth $26,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IOVA. Creative Planning lifted its position in shares of Iovance Biotherapeutics by 2.6% in the 3rd quarter. Creative Planning now owns 73,489 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 1,896 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Iovance Biotherapeutics by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 2,624 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Iovance Biotherapeutics by 77.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 58,376 shares of the biotechnology company’s stock valued at $548,000 after acquiring an additional 25,500 shares during the period. Rice Hall James & Associates LLC lifted its position in Iovance Biotherapeutics by 2.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,679,157 shares of the biotechnology company’s stock valued at $15,767,000 after acquiring an additional 43,132 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its position in Iovance Biotherapeutics by 59.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 21,740 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 8,090 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Stock Performance

Shares of Iovance Biotherapeutics stock opened at $5.78 on Friday. The stock has a market capitalization of $1.76 billion, a PE ratio of -3.88 and a beta of 0.53. Iovance Biotherapeutics, Inc. has a 52-week low of $5.05 and a 52-week high of $18.33. The company has a 50-day simple moving average of $6.44 and a two-hundred day simple moving average of $8.70.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler lowered their price target on shares of Iovance Biotherapeutics from $10.00 to $7.50 and set a “neutral” rating for the company in a research report on Friday, January 31st. HC Wainwright reissued a “buy” rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.07.

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 in the United States. 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.