Iovance Biotherapeutics Inc (NASDAQ:IOVA) – Experts See The Stock A Different Way Today

In the last trading session, 6.19 million shares of the Iovance Biotherapeutics Inc (NASDAQ:IOVA) were traded, and its beta was 0.61. Most recently the company’s share price was $14.82, and it changed around $0.72 or 5.11% from the last close, which brings the market valuation of the company to $4.14B. IOVA currently trades at a discount to its 52-week high of $18.33, offering almost -23.68% off that amount. The share price’s 52-week low was $3.21, which indicates that the current value has risen by an impressive 78.34% since then. We note from Iovance Biotherapeutics Inc’s average daily trading volume that its 10-day average is 5.42 million shares, with the 3-month average coming to 10.00 million.

Iovance Biotherapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended IOVA as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Iovance Biotherapeutics Inc is expected to report earnings per share of -$0.42 for the current quarter.

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Iovance Biotherapeutics Inc (NASDAQ:IOVA) trade information

Instantly IOVA has showed a green trend with a performance of 5.11% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 82.29% year-to-date, but still down -3.52% over the last five days. On the other hand, Iovance Biotherapeutics Inc (NASDAQ:IOVA) is -14.97% down in the 30-day period. We can see from the shorts that 47.43 million shares have been sold at a short interest cover period of 2.79 day(s).

The consensus price target as assigned by Wall Street analysts is $21.33, which translates to bulls needing to increase their stock price by 30.52% from its current value. Analyst projections state that IOVA is forecast to be at a low of $6 and a high of $40.

Iovance Biotherapeutics Inc (IOVA) estimates and forecasts

Iovance Biotherapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 229.33 percent over the past six months and at a 25.93% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 16.00% in revenue this quarter, and will report an increase of 23.40% in the next quarter. The year-over-year growth rate is expected to be 13,547.60%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $2.07 million in revenue for the current quarter. 12 analysts expect Iovance Biotherapeutics Inc to make $28.6 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $200k and $238k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 935.00%. Forecasts for the next quarter put sales growth at 11,916.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -8.25%.

IOVA Dividends

Iovance Biotherapeutics Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 0.56% of Iovance Biotherapeutics Inc shares, and 89.20% of them are in the hands of institutional investors. The stock currently has a share float of 89.70%. Iovance Biotherapeutics Inc stock is held by 338 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.17% of the shares, which is about 22.81 million shares worth $338.09 million.

MHR Fund Management, LLC, with 7.16% or 20.0 million shares worth $296.36 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 10.9 million shares worth $161.47 million, making up 3.90% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 7.1 million shares worth around $105.28 million, which represents about 2.54% of the total shares outstanding.