Iovance Biotherapeutics Inc (NASDAQ:IOVA) price on Thursday, June 12, rose 3.12% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.31.
A look at the stock’s price movement, the close in the last trading session was $2.24. Turning to its 52-week performance, $12.51 and $1.64 were the 52-week high and 52-week low respectively. Overall, IOVA moved 29.05% over the past month.
Iovance Biotherapeutics Inc’s market cap currently stands at around $771.39 million, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 67.14M for the company’s revenue for the quarter, with a low and high estimate of 55.16M and 75.9M respectively. The average forecast suggests up to a 115.84% 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 287.11M, representing a 74.99% 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 50% Sell. On the other hand, the stock is on average a 100% 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 21.88% and -11.15% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.54, while 7-day volatility ratio is 6.38% and 5.51% in the 30-day chart. Further, Iovance Biotherapeutics Inc (IOVA) has a beta value of 0.88, and an average true range (ATR) of 0.20. Analysts have given the company’s stock an average 52-week price target of $4, forecast between a low of $2 and high of $6. Looking at the price targets, the low is 13.42% off current price level while to achieve the yearly target high, price needs to move -159.74%. Nonetheless, investors will most likely welcome a -73.16% jump to $4 which is the analysts’ median price.
If we refocus on Iovance Biotherapeutics Inc (NASDAQ:IOVA), historical trading data shows that trading volumes averaged 13.02 million over the past 3 months. The company’s latest data on shares outstanding shows there are 333.93 million shares.
The 18.70% of Iovance Biotherapeutics Inc’s shares are in the hands of company insiders while institutional holders own 64.00% of the company’s shares. Current price change has pushed the stock -68.78% 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.
