Iovance Biotherapeutics Inc (IOVA) Testing Investors’ Patience Right Now

Currently, there are 278.93M common shares owned by the public and among those 214.41M shares have been available to trade.

However, the script later moved the day high at 16.49, down -1.07%. The company’s stock has a 5-day price change of 59.78% and 205.03% over the past three months. IOVA shares are trading 93.97% year to date (YTD), with the 12-month market performance up to 113.11% higher. It has a 12-month low price of $3.21 and touched a high of $16.93 over the same period. IOVA has an average intraday trading volume of 9.79 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 67.33%, 82.91%, and 130.67% respectively.

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Institutional ownership of Iovance Biotherapeutics Inc (NASDAQ: IOVA) shares accounts for 64.93% of the company’s 278.93M shares outstanding.

It has a market capitalization of $4.40B and a beta (3y monthly) value of 0.61. The earnings-per-share (ttm) stands at -$2.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.83% over the week and 9.57% over the month.

Analysts forecast that Iovance Biotherapeutics Inc (IOVA) will achieve an EPS of -$0.43 for the current quarter, -$0.41 for the next quarter and -$1.37 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.48 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 24.87%, and 26.96% over the next financial year.

Looking at the support for the IOVA, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on November 20, 2023, with the firm’s price target at $12. Barclays coverage for the Iovance Biotherapeutics Inc (IOVA) stock in a research note released on September 18, 2023 offered a Overweight rating with a price target of $18. Wells Fargo was of a view on May 30, 2023 that the stock is Overweight, while Wells Fargo gave the stock Equal Weight rating on March 27, 2023, issuing a price target of $11. Piper Sandler on their part issued Overweight rating on January 27, 2023.

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