Iovance Biotherapeutics Inc. (NASDAQ:IOVA) does about 4.36M shares in volume on a normal day but saw 9516967 shares change hands in Monday trading. The company now has a market cap of 1.09B USD. Its current market price is $7.00, marking an increase of 11.64% compared to the previous close of $6.27. The 52 week high reached by this stock is $18.73 whilst the lowest price level in 52 weeks is $5.42. The script in recent trading has seen the stock touch a high of $7.115 and a low of $6.50.
Iovance Biotherapeutics Inc. (IOVA) has a 20-day trading average at $6.24 and the current price is -62.63% off the 52-week high compared with 29.15% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.63 and its 200-day simple moving average is $10.40. If we look at the stock’s price movements over the week, volatility stands at 6.02%, which increases to 6.41% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 59.56 to suggest the stock is neutral.
15 analysts observing the Iovance Biotherapeutics Inc. (IOVA) stock have set the 12-month price targets for the company’s shares at between $6.00 and $40.00. The consensus objective for the share price is $23.00, suggesting that the stock has a potential upside of 69.57% over the period. The median price target is 71.43% away from the current levels at $24.50.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 2 advise that it is a overweight. 9 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 09, 2022 when Goldman downgraded the stock to “Neutral” and issued a price target of between $20 and $6. Wells Fargo resumed its price target at $14.
The current price level is 13.07%, 5.19%, and -33.00% away from its SMA20, SMA50, and SMA200 respectively, with the IOVA price moving above the 50-day SMA on January 23. Iovance Biotherapeutics Inc. (IOVA) stock is up 10.24% over the week and 14.75% over the past month. Its price is 9.55% year-to-date and -50.14% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.63 above consensus estimates by $0.01. IOVA’s earnings per share are forecast to shrink by -12.10% this year and 3.60% over next year.
To reach the target analysts have set, the stock logically needs to grow 69.57 percent from here.
Outstanding shares total 157.82M with insiders holding 0.52% of the shares and institutional holders owning 118.31% of the company’s common stock. The company has a return on equity of -76.40%. The beta has a value of 0.12. Price to book ratio is 2.81.
According to a U.S. Securities and Exchange Commission filing, SPDR S&P Biotech ETF has added its position in Iovance Biotherapeutics Inc. (IOVA) to 11,438,333 shares, mirroring a recent increase by 0.41%. SPDR S&P Biotech ETF added 46240.0 shares of Iovance Biotherapeutics Inc. common stock bringing its total worth to about $73.09 million at the end of recent close, SEC documents show. Vanguard Small Cap Index Fund cut their holdings by -0.14% in the company over the course of the most recent quarter. It now holds a 2.45% position in Iovance Biotherapeutics Inc. thanks to 3.86 million shares amounting to $24.69 million.