During the last session, Iovance Biotherapeutics Inc. (NASDAQ:IOVA)’s traded shares were 9.94 million, with the beta value of the company hitting 0.16. At the end of the trading day, the stock’s price was $7.69, reflecting an intraday loss of -4.71% or -$0.38. The 52-week high for the IOVA share is $15.63, that puts it down -103.25 from that peak though still a striking 31.34% gain since the share price plummeted to a 52-week low of $5.28. The company’s market capitalization is $1.74B, and the average intraday trading volume over the past 10 days was 6.59 million shares, and the average trade volume was 4.13 million shares over the past three months.
Iovance Biotherapeutics Inc. (IOVA) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. IOVA has a Sell rating from 0 analyst(s) out of 15 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 10 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.76.
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Iovance Biotherapeutics Inc. (NASDAQ:IOVA) trade information
Iovance Biotherapeutics Inc. (IOVA) registered a -4.71% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -4.71% in intraday trading to $7.69 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 3.36%, and it has moved by 40.59% in 30 days. Based on these gigs, the overall price performance for the year is -46.45%. The short interest in Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is 23.38 million shares and it means that shorts have 6.01 day(s) to cover.
The consensus price target of analysts on Wall Street is $21.69, which implies an increase of 64.55% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $40.00 respectively. As a result, IOVA is trading at a discount of -420.16% off the target high and 21.98% off the low.
Iovance Biotherapeutics Inc. (IOVA) estimates and forecasts
Statistics show that Iovance Biotherapeutics Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Iovance Biotherapeutics Inc. (IOVA) shares have gone up 22.45% during the last six months, with a year-to-date growth rate less than the industry average at 2.01% against 11.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -20.60% this quarter and then jump 20.60% in the quarter after that.
Revenue for the current quarter is expected to be $2.92 million as predicted by 13 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $5.1 million by the end of Sep 2023.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -12.00%. While earnings are projected to return -11.40% in 2023.
Iovance Biotherapeutics Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Iovance Biotherapeutics Inc. (NASDAQ:IOVA)’s Major holders
Iovance Biotherapeutics Inc. insiders own 0.37% of total outstanding shares while institutional holders control 89.98%, with the float percentage being 90.32%. Perceptive Advisors Llc is the largest shareholder of the company, while 328 institutions own stock in it. As of Mar 30, 2023, the company held over 15.34 million shares (or 6.83% of all shares), a total value of $93.73 million in shares.
The next largest institutional holding, with 13.73 million shares, is of State Street Corporation’s that is approximately 6.12% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $83.91 million.
Also, the Mutual Funds coming in first place with the largest holdings of Iovance Biotherapeutics Inc. (IOVA) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 9.89 million shares. This amounts to just over 4.45 percent of the company’s overall shares, with a $72.11 million market value. The same data shows that the other fund manager holds slightly less at 4.58 million, or about 2.06% of the stock, which is worth about $29.28 million.