Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares, rose in value, with the stock price down by -3.53% to the previous day’s close as strong demand from buyers drove the stock to $14.21.
Actively observing the price movement in the last trading, the stock closed the session at $14.73. The value of beta (5-year monthly) was 0.62. Referring to stock’s 52-week performance, its high was $18.33, and the low was $3.21. On the whole, IOVA has fluctuated by 55.13% over the past month.
With the market capitalization of Iovance Biotherapeutics Inc currently standing at about $3.97 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.42, which is expected to increase to -$0.15 for fiscal year -$1.29 and then to about -$0.74 by fiscal year 2025. Data indicates that the EPS growth is expected to be 31.70% in 2025, while the next year’s EPS growth is forecast to be 42.60%.
Analysts have estimated the company’s revenue for the quarter at $2.07 million, with a low estimate of $480k and a high estimate of $6 million. According to the average forecast, sales growth in current quarter could jump up 935.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $162.27 million, representing an increase of 13,547.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IOVA’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IOVA currently trading nearly -5.19% and 28.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.24, while the 7-day volatility ratio is showing 7.45% which for the 30-day chart, stands at 10.05%. Furthermore, Iovance Biotherapeutics Inc (IOVA)’s beta value is 0.62, and its average true range (ATR) is 1.22.
A comparison of Iovance Biotherapeutics Inc (IOVA) with its peers suggests the former has fared considerably weaker in the market. IOVA showed an intraday change of -3.53% in last session, and over the past year, it grew by 113.68%%.
Data on historical trading for Iovance Biotherapeutics Inc (NASDAQ:IOVA) indicates that the trading volumes over the past 10 days have averaged 8.66 million and over the past 3 months, they’ve averaged 10.72 million. According to company’s latest data on outstanding shares, there are 256.14 million shares outstanding.
Nearly 21.24% of Iovance Biotherapeutics Inc’s shares belong to company insiders and institutional investors own 67.26% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 46.71 million shares as on Feb 29, 2024, resulting in a short ratio of 3.33. According to the data, the short interest in Iovance Biotherapeutics Inc (IOVA) stood at 16.72% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 41.97 million. The stock has risen by 74.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IOVA stock heading into the next quarter.
