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Iovance Biotherapeutics Inc (NASDAQ: IOVA) Surprises Investors, Looks Strong In The Future

In the latest trading session, 2.74 million Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares changed hands as the company’s beta touched 0.40. With the company’s most recent per share price at $9.74 changing hands around $0.56 or 6.10% at last look, the market valuation stands at $2.49B. IOVA’s current price is a discount, trading about -5.85% off its 52-week high of $10.31. The share price had its 52-week low at $3.21, which suggests the last value was 67.04% up since then. When we look at Iovance Biotherapeutics Inc’s average trading volume, we note the 10-day average is 5.24 million shares, with the 3-month average coming to 1.37.

Iovance Biotherapeutics Inc (NASDAQ:IOVA) trade information

Instantly IOVA is in green as seen in intraday trades today. With action 22.98%, the performance over the past five days has been green. The jump to weekly highs of 9.96 added 6.10% to the stock’s daily price. The company’s shares are showing year-to-date upside of 19.80%, with the 5-day performance at 22.98% in the green. However, in the 30-day time frame, Iovance Biotherapeutics Inc (NASDAQ:IOVA) is 6.45% up. Looking at the short shares, we see there were 41.97 million shares sold at short interest cover period of 6.41 days.

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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 37.96% over the past 6 months, a 24.50% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Iovance Biotherapeutics Inc will rise 32.80%, while the growth in revenue is estimated to hit 24.00% 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 $1.66 million. 9 analysts are of the opinion that Iovance Biotherapeutics Inc’s revenue for the quarter ending Mar 2024 will be $18.73 million. The estimates for the next quarter sales put growth at 9,265.00%.

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 2024 estimates are for Iovance Biotherapeutics Inc earnings to increase by 24.90%.

IOVA Dividends

Iovance Biotherapeutics Inc is expected to release its next quarterly earnings report between February 26 and March 01.

Iovance Biotherapeutics Inc (NASDAQ:IOVA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.47% of Iovance Biotherapeutics Inc shares while 95.35% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 95.80%. There are 95.35% 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.

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