Iovance Biotherapeutics Inc (NASDAQ:IOVA) price on Tuesday, December 24, rose 0.40% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.49.
A look at the stock’s price movement, the close in the last trading session was $7.46, moving within a range at $7.24 and $7.5. The beta value (5-Year monthly) was 0.594. Turning to its 52-week performance, $18.33 and $6.70 were the 52-week high and 52-week low respectively. Overall, IOVA moved -13.10% over the past month.
Iovance Biotherapeutics Inc’s market cap currently stands at around $2.29 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 71.57M for the company’s revenue for the quarter, with a low and high estimate of 69.63M and 77.23M respectively. The average forecast suggests up to a 14,748.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 162.01M, representing a 13,525.93% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IOVA is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 6 recommend IOVA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
IOVA’s current price about -9.85% and -19.64% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 34.17, while 7-day volatility ratio is 5.71% and 5.01% in the 30-day chart. Further, Iovance Biotherapeutics Inc (IOVA) has a beta value of 0.55, and an average true range (ATR) of 0.46. Analysts have given the company’s stock an average 52-week price target of $11.75, forecast between a low of $10 and high of $17. Looking at the price targets, the low is -33.51% off current price level while to achieve the yearly target high, price needs to move -126.97%. Nonetheless, investors will most likely welcome a -56.88% jump to $11.75 which is the analysts’ median price.
If we refocus on Iovance Biotherapeutics Inc (NASDAQ:IOVA), historical trading data shows that trading volumes averaged 6.54 over the past 10 days and 6.23 million over the past 3 months. The company’s latest data on shares outstanding shows there are 304.62 million shares.
The 18.94% of Iovance Biotherapeutics Inc’s shares are in the hands of company insiders while institutional holders own 68.46% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 56.92 million on 2024-11-29, giving us a short ratio of 6.73. The data shows that as of 2024-11-29 short interest in Iovance Biotherapeutics Inc (IOVA) stood at 2063.9999 of shares outstanding, with shares short falling to 59.73 million registered in 2024-10-31. Current price change has pushed the stock -8.61% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IOVA stock continues to rise going into the next quarter.
