In the latest trading session, 9.35 million Iovance Biotherapeutics Inc. (NASDAQ:IOVA) shares changed hands as the company’s beta touched 0.10. With the company’s most recent per share price at $5.93 changing hands around $0.66 or 12.62% at last look, the market valuation stands at $1.30B. IOVA’s current price is a discount, trading about -97.98% off its 52-week high of $11.74. The share price had its 52-week low at $4.41, which suggests the last value was 25.63% up since then. When we look at Iovance Biotherapeutics Inc.’s average trading volume, we note the 10-day average is 10.22 million shares, with the 3-month average coming to 5.84 million.
Analysts gave the Iovance Biotherapeutics Inc. (IOVA) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 1 recommended IOVA as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Iovance Biotherapeutics Inc.’s EPS for the current quarter is expected to be -$0.45.
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Iovance Biotherapeutics Inc. (NASDAQ:IOVA) trade information
Instantly IOVA is in green as seen in intraday trades today. With action -1.58%, the performance over the past five days has been red. The jump to weekly highs of 6.47 on Friday, 09/15/23 added 12.62% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.12%, with the 5-day performance at -1.58% in the red. However, in the 30-day time frame, Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is -5.34% down. Looking at the short shares, we see there were 30.07 million shares sold at short interest cover period of 7.2 days.
The consensus price target for the stock as assigned by Wall Street analysts is $22.36, meaning bulls need an upside of 73.48% from its recent market value. According to analyst projections, IOVA’s forecast low is $14.00 with $38.00 as the target high. To hit the forecast high, the stock’s price needs a -540.81% plunge from its current level, while the stock would need to soar -136.09% for it to hit the projected low.
Iovance Biotherapeutics Inc. (IOVA) estimates and forecasts
Data shows that the Iovance Biotherapeutics Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -8.13% over the past 6 months, a 24.90% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Iovance Biotherapeutics Inc. will rise 28.60%, while the growth in revenue is estimated to hit 28.10% for the next quarter.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $4.19 million. 13 analysts are of the opinion that Iovance Biotherapeutics Inc.’s revenue for the quarter ending Dec 2023 will be $6.74 million.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -12.00%. The 2023 estimates are for Iovance Biotherapeutics Inc. earnings to decrease by -11.40%.
IOVA Dividends
Iovance Biotherapeutics Inc. is expected to release its next quarterly earnings report between November 01 and November 06.
Iovance Biotherapeutics Inc. (NASDAQ:IOVA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.33% of Iovance Biotherapeutics Inc. shares while 91.40% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.70%. There are 91.40% institutions holding the Iovance Biotherapeutics Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.23% of the shares, roughly 20.4 million IOVA shares worth $143.58 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.86% or 17.0 million shares worth $119.69 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 9.15 million shares estimated at $66.45 million under it, the former controlled 3.69% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.66% of the shares, roughly 6.59 million shares worth around $46.39 million.
