The Vanguard Group, Inc. recently announced the acquisition of new stake in Iovance Biotherapeutics Inc. (NASDAQ:IOVA). The institutional investor has increased its shareholding in the Healthcare company by 11.47% to 12.03 million shares with purchase of 1.24 million shares. This fresh investment now brings its stake to 9.48% valued currently at $349.58 million. In addition, Perceptive Advisors LLC raised its holdings by 0.14 million to 11.81 million shares. And Avoro Capital Advisor LLC has lifted its position by 14.99% or 1.35 million shares – to 10.36 million shares.
With over 1.73 million Iovance Biotherapeutics Inc. (IOVA) shares trading Monday and a closing price of $33.33 on the day, the dollar volume was approximately $57.69 million. The shares have shown a positive weekly performance of 15.37% and its price on 08/31/20 gained nearly 5.21%. Currently, there are 133.16M common shares owned by the public and among those 101.92M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for IOVA have a consensus price objective of $48.18. The analysts have set the share’s price value over the next 12 months at a high of $61.00 and a low of $38.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Iovance Biotherapeutics Inc. stock is 1.70 for the next 12 months. The average price target is 29.21% above its last price level and an upside to the estimated low will see the stock gain 12.29% over that period. But an upside of 45.36% will see the stock hit the forecast high price target while mean target price for the stock is $48.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Iovance Biotherapeutics Inc. are ARK Innovation ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. ARK Innovation ETF owns 4.11 million shares of the company’s stock, all valued at over $119.58 million. The company bought an additional 43945.0 shares recently to bring their total holdings to about 3.24% of the shares outstanding. Vanguard Total Stock Market Index sold 431.0 shares to see its total holdings shrink to 3.7 million shares valued at over $107.51 million and representing 2.92% of the shares outstanding. Vanguard Small Cap Index Fund sold 20388.0 shares to bring its total holdings to over 3.22 million shares at a value of $93.52 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.54% of the shares outstanding.
Shares of Iovance Biotherapeutics Inc. (NASDAQ: IOVA) opened at $31.79, up $0.11 from a prior closing price of $31.68. However, the script later closed the day at $33.33, up 5.21%. The company’s stock has a 5-day price change of 15.37% and 0.03% over the past three months. IOVA shares are trading 20.41% year to date (YTD), with the 12-month market performance up to 58.64% higher. It has a 12-month low price of $17.67 and touched a high of $41.49 over the same period. Currently, 1.73 million shares have been traded, compared to an average intraday trading volume of 1.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.75%, 14.03%, and 15.37% respectively.
Institutional ownership of Iovance Biotherapeutics Inc. (NASDAQ: IOVA) 133.16M shares outstanding. Mutual fund holders own 51.70%, while other institutional holders and individual stakeholders account for 61.00% and 0.74% respectively.
It has a market capitalization of $4.50B and a beta (3y monthly) value of 0.96. The earnings-per-share (ttm) stands at -$1.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.86% over the week and 4.84% over the month.
Analysts forecast that Iovance Biotherapeutics Inc. (IOVA) will achieve an EPS of -$0.46 for the current quarter, -$0.48 for the next quarter and -$2.02 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.54 while analysts give the company a high EPS estimate of -$0.39. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.10%, and 0.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Iovance Biotherapeutics Inc. (IOVA) as a “Strong Buy” at a consensus score of 1.70. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 0 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IOVA, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on April 22, 2020, with the firm’s price target at $61. Barclays coverage for the Iovance Biotherapeutics Inc. (IOVA) stock in a research note released on March 04, 2020 offered a Overweight rating with a price target of $45. Oppenheimer was of a view on February 26, 2020 that the stock is Outperform, while H.C. Wainwright gave the stock Buy rating on February 26, 2020, issuing a price target of $32- $36. JMP Securities on their part issued Mkt Outperform rating on December 18, 2019.