Principal Financial Group Inc. raised its position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 28.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,694,122 shares of the biotechnology company's stock after buying an additional 1,047,335 shares during the quarter. Principal Financial Group Inc. owned about 1.43% of Iovance Biotherapeutics worth $15,631,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of IOVA. Cambridge Investment Research Advisors Inc. grew its stake in shares of Iovance Biotherapeutics by 12.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,877 shares of the biotechnology company's stock worth $153,000 after purchasing an additional 5,237 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Iovance Biotherapeutics during the 1st quarter worth $39,000. Exchange Traded Concepts LLC grew its stake in shares of Iovance Biotherapeutics by 99.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 34,061 shares of the biotechnology company's stock worth $113,000 after purchasing an additional 16,990 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Iovance Biotherapeutics by 46.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,451 shares of the biotechnology company's stock valued at $91,000 after acquiring an additional 8,713 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Iovance Biotherapeutics by 93.6% in the 1st quarter. SG Americas Securities LLC now owns 134,765 shares of the biotechnology company's stock valued at $449,000 after acquiring an additional 65,140 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
IOVA has been the topic of a number of research reports. UBS Group cut shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $17.00 to $2.00 in a research note on Friday, May 16th. Citizens Jmp cut shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. JMP Securities reissued a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Finally, HC Wainwright lowered their price objective on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.22.
View Our Latest Stock Analysis on IOVA
Iovance Biotherapeutics Trading Down 3.1%
Shares of Iovance Biotherapeutics stock traded down $0.06 during mid-day trading on Friday, hitting $1.87. 6,774,509 shares of the stock were exchanged, compared to its average volume of 9,118,840. Iovance Biotherapeutics, Inc. has a twelve month low of $1.64 and a twelve month high of $12.51. The stock has a market capitalization of $624.46 million, a price-to-earnings ratio of -1.51 and a beta of 0.85. The company has a 50-day simple moving average of $1.98 and a 200 day simple moving average of $3.83.
Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.11). Iovance Biotherapeutics had a negative return on equity of 49.71% and a negative net margin of 176.49%. The company had revenue of $49.32 million for the quarter, compared to analysts' expectations of $83.40 million. During the same quarter in the previous year, the company earned ($0.42) earnings per share. The company's revenue was up 6795.1% on a year-over-year basis. Equities research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.
Iovance Biotherapeutics Company Profile
(
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.
Further Reading
Before you consider Iovance Biotherapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iovance Biotherapeutics wasn't on the list.
While Iovance Biotherapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
