Principal Financial Group Inc. Has $37.87 Million Stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Principal Financial Group Inc. raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 59.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,033,184 shares of the biotechnology company's stock after purchasing an additional 1,496,941 shares during the quarter. Principal Financial Group Inc. owned about 1.32% of Iovance Biotherapeutics worth $37,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of Iovance Biotherapeutics by 24.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,034,760 shares of the biotechnology company's stock worth $8,299,000 after purchasing an additional 200,536 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Iovance Biotherapeutics by 11.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 361,187 shares of the biotechnology company's stock worth $2,897,000 after buying an additional 37,521 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in Iovance Biotherapeutics during the second quarter valued at $82,000. Arizona State Retirement System increased its position in Iovance Biotherapeutics by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 54,734 shares of the biotechnology company's stock worth $439,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Iovance Biotherapeutics during the second quarter valued at approximately $193,000. Institutional investors and hedge funds own 77.03% of the company's stock.

Insider Buying and Selling

In related news, Director Ryan D. Maynard sold 50,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.06, for a total value of $503,000.00. Following the sale, the director now directly owns 7,500 shares of the company's stock, valued at approximately $75,450. The trade was a 86.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IOVA. HC Wainwright restated a "buy" rating and issued a $32.00 target price on shares of Iovance Biotherapeutics in a report on Wednesday, November 6th. UBS Group started coverage on Iovance Biotherapeutics in a research report on Thursday, October 24th. They set a "buy" rating and a $17.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Iovance Biotherapeutics Trading Up 0.4 %

Iovance Biotherapeutics stock traded up $0.03 during mid-day trading on Tuesday, hitting $7.49. The stock had a trading volume of 3,542,933 shares, compared to its average volume of 7,181,468. The stock has a market capitalization of $2.28 billion, a PE ratio of -5.03 and a beta of 0.55. Iovance Biotherapeutics, Inc. has a 12 month low of $6.70 and a 12 month high of $18.33. The stock has a 50-day simple moving average of $9.32 and a two-hundred day simple moving average of $9.30.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. The business had revenue of $58.56 million for the quarter, compared to analyst estimates of $53.54 million. During the same period last year, the company earned ($0.46) EPS. Sell-side analysts expect that Iovance Biotherapeutics, Inc. will post -1.23 earnings per share for the current fiscal 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 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.