Principal Financial Group Inc. Sells 386,397 Shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Principal Financial Group Inc. cut its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,646,787 shares of the biotechnology company’s stock after selling 386,397 shares during the period. Principal Financial Group Inc.’s holdings in Iovance Biotherapeutics were worth $26,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IOVA. Impact Partnership Wealth LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at approximately $83,000. Clear Creek Financial Management LLC bought a new stake in Iovance Biotherapeutics during the fourth quarter valued at approximately $91,000. KBC Group NV grew its position in Iovance Biotherapeutics by 105.7% during the fourth quarter. KBC Group NV now owns 12,303 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 6,321 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Iovance Biotherapeutics by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,978 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 2,624 shares during the period. Finally, Assetmark Inc. grew its position in Iovance Biotherapeutics by 48.0% during the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 4,167 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Iovance Biotherapeutics Price Performance

Shares of NASDAQ:IOVA opened at $5.78 on Friday. Iovance Biotherapeutics, Inc. has a 1-year low of $5.05 and a 1-year high of $18.33. The company has a market capitalization of $1.76 billion, a P/E ratio of -3.88 and a beta of 0.53. The firm’s 50 day simple moving average is $6.44 and its two-hundred day simple moving average is $8.70.

Analyst Ratings Changes

Several analysts recently issued reports on IOVA shares. Piper Sandler cut their target price 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 restated a “buy” rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Iovance Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $21.07.

Iovance Biotherapeutics Company 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.