In the last trading session, 13.56 million Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares changed hands as the company’s beta touched 0.16. With the company’s per share price at $5.05 changed hands at $0.65 or 14.77% during last session, the market valuation stood at $1.29B. IOVA’s last price was a discount, traded about -85.35% off its 52-week high of $9.36. The share price had its 52-week low at $3.21, which suggests the last value was 36.44% up since then. When we look at Iovance Biotherapeutics Inc’s average trading volume, we note the 10-day average is 6.91 million shares, with the 3-month average coming to 6.36 million.
Analysts gave the Iovance Biotherapeutics Inc (IOVA) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.31. 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.
Iovance Biotherapeutics Inc (NASDAQ:IOVA) trade information
Instantly IOVA was in green as seen at the end of in last trading. With action 27.20%, the performance over the past five days has been green. The jump to weekly highs of 5.08 on Friday, 11/17/23 added 14.77% to the stock’s daily price. The company’s shares are showing year-to-date downside of -20.97%, with the 5-day performance at 27.20% in the green. However, in the 30-day time frame, Iovance Biotherapeutics Inc (NASDAQ:IOVA) is 53.03% up. Looking at the short shares, we see there were 38.86 million shares sold at short interest cover period of 7.16 days.
The consensus price target for the stock as assigned by Wall Street analysts is $21.18, meaning bulls need an upside of 76.16% from its current market value. According to analyst projections, IOVA’s forecast low is $14.00 with $30.00 as the target high. To hit the forecast high, the stock’s price needs a -494.06% plunge from its current level, while the stock would need to soar -177.23% 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 -31.39% over the past 6 months, a 24.50% in annual growth rate that is considerably higher than the industry average of 14.90%. 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 29.70%, while the growth in revenue is estimated to hit 26.00% for the next quarter.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $1.8 million. 7 analysts are of the opinion that Iovance Biotherapeutics Inc’s revenue for the quarter ending Mar 2024 will be $28.59 million. The estimates for the next quarter sales put growth at 14,195.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -11.99%. The 2023 estimates are for Iovance Biotherapeutics Inc earnings to increase by 24.43%.
Iovance Biotherapeutics Inc is expected to release its next quarterly earnings report on November 07.
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 Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 8.87 million shares estimated at $53.58 million under it, the former controlled 3.58% 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.