IOVA Stock Forecast 2024: Iovance Biotherapeutics Inc Remains Weak With A Upside Of 48.64%

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In the last trading session, 11.2 million shares of the Iovance Biotherapeutics Inc (NASDAQ:IOVA) were traded, and its beta was 0.56. Most recently the company’s share price was $8.43, and it changed around $0.25 or 3.06% from the last close, which brings the market valuation of the company to $2.45B. IOVA currently trades at a discount to its 52-week high of $18.33, offering almost -117.44% off that amount. The share price’s 52-week low was $4.33, which indicates that the current value has risen by an impressive 48.64% since then. We note from Iovance Biotherapeutics Inc’s average daily trading volume that its 10-day average is 10.9 million shares, with the 3-month average coming to 6.06 million.

Iovance Biotherapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 2 recommended IOVA as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Iovance Biotherapeutics Inc is expected to report earnings per share of -0.26 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 3.06% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 10.47 on recent trading dayincreased the stock’s daily price by 19.48%. The company’s shares are currently up 3.69% year-to-date, but still down -20.85% over the last five days. On the other hand, Iovance Biotherapeutics Inc (NASDAQ:IOVA) is -17.68% down in the 30-day period. We can see from the shorts that 59.73 million shares have been sold at a short interest cover period of 13.08 day(s).

The consensus price target as assigned by Wall Street analysts is $23, which translates to bulls needing to increase their stock price by 63.35% 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 fallen -18.55 percent over the past six months and at a 33.86% annual growth rate that is well above the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 41.88% in revenue this quarter, and will report an increase of 38.78% in the next quarter. The year-over-year growth rate is expected to be 13,525.93%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of 71.57M in revenue for the current quarter. 8 analysts expect Iovance Biotherapeutics Inc to make 88.59M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 482k and 715k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14,748.60%. Forecasts for the next quarter put sales growth at 12,289.93%.

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 in December.

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

Upon looking at major shareholders, it appears that insiders hold 0.53% of Iovance Biotherapeutics Inc shares, and 88.12% of them are in the hands of institutional investors. The stock currently has a share float of 88.58%. Iovance Biotherapeutics Inc stock is held by 385.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.7478% of the shares, which is about 25.95 million shares worth $208.12 million.

PERCEPTIVE ADVISORS LLC, with 9.7412% or 25.93 million shares worth $207.98 million as of 2024-06-30, holds the second largest percentage of outstanding shares.