Principal Financial Group Inc. grew its holdings in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 59.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,033,184 shares of the biotechnology company's stock after purchasing an additional 1,496,941 shares during the period. Principal Financial Group Inc. owned approximately 1.44% of Iovance Biotherapeutics worth $37,872,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOVA. ORG Partners LLC acquired a new position in shares of Iovance Biotherapeutics during the 2nd quarter valued at about $32,000. Quest Partners LLC lifted its position in shares of Iovance Biotherapeutics by 1,237.7% during the second quarter. Quest Partners LLC now owns 5,003 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 4,629 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Iovance Biotherapeutics in the second quarter worth about $58,000. Daiwa Securities Group Inc. boosted its stake in shares of Iovance Biotherapeutics by 754.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,813 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 7,781 shares during the last quarter. Finally, Abacus Planning Group Inc. purchased a new position in shares of Iovance Biotherapeutics during the 2nd quarter worth $82,000. Hedge funds and other institutional investors own 77.03% of the company's stock.
Iovance Biotherapeutics Stock Performance
Shares of NASDAQ:IOVA traded down $0.92 during midday trading on Tuesday, hitting $9.73. 6,942,528 shares of the stock were exchanged, compared to its average volume of 7,225,069. Iovance Biotherapeutics, Inc. has a 52-week low of $3.80 and a 52-week high of $18.33. The business's fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $9.80. The company has a market capitalization of $2.72 billion, a PE ratio of -7.15 and a beta of 0.60.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Iovance Biotherapeutics had a negative return on equity of 60.50% and a negative net margin of 451.25%. The company had revenue of $58.56 million for the quarter, compared to the consensus estimate of $53.54 million. During the same period in the previous year, the business earned ($0.46) earnings per share. As a group, equities analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.26 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on IOVA. UBS Group started coverage on shares of Iovance Biotherapeutics in a research report on Thursday, October 24th. They issued a "buy" rating and a $17.00 price objective on the stock. Piper Sandler cut Iovance Biotherapeutics from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $19.00 to $10.00 in a research report on Monday, July 29th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of Iovance Biotherapeutics in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Iovance Biotherapeutics to a "sell" rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Iovance Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $22.33.
Read Our Latest Research Report on IOVA
Iovance Biotherapeutics Profile
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Free Report)
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.
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