Iovance Biotherapeutics Inc. (IOVA) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

Iovance Biotherapeutics Inc. (NASDAQ: IOVA) stock jumped 0.52% on Friday to $9.58 against a previous-day closing price of $9.53. With 1.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.49 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $10.09 whereas the lowest price it dropped to was $9.46. The 52-week range on IOVA shows that it touched its highest point at $27.96 and its lowest point at $6.18 during that stretch. It currently has a 1-year price target of $26.38. Beta for the stock currently stands at 0.53.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IOVA was down-trending over the past week, with a drop of -2.15%, but this was down by -10.63% over a month. Three-month performance dropped to -16.48% while six-month performance fell -42.46%. The stock lost -61.15% in the past year, while it has lost -49.82% so far this year. A look at the trailing 12-month EPS for IOVA yields -2.40 with Next year EPS estimates of -2.41. For the next quarter, that number is -0.66. This implies an EPS growth rate of -18.90% for this year and 11.00% for next year.

Float and Shares Shorts:

At present, 157.27 million IOVA shares are outstanding with a float of 145.02 million shares on hand for trading. On Sep 14, 2022, short shares totaled 19.54 million, which was 12.38% higher than short shares on Aug 14, 2022. In addition to Dr. Frederick G. Vogt Esq., J.D., Ph.D. as the firm’s Interim CEO, Pres, Gen. Counsel & Corp. Sec., Mr. Jean-Marc Bellemin M.B.A. serves as its Chief Financial Officer & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 106.75% of IOVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.42% of IOVA, in contrast to 47.35% held by mutual funds. Shares owned by individuals account for 0.62%. As the largest shareholder in IOVA with 8.33% of the stake, The Vanguard Group, Inc. holds 13,140,809 shares worth 13,140,809. A second-largest stockholder of IOVA, Perceptive Advisors LLC, holds 11,826,299 shares, controlling over 7.49% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in IOVA, holding 11,770,751 shares or 7.46% stake. With a 5.40% stake in IOVA, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 8,518,435 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.72% of IOVA stock, is the second-largest Mutual Fund holder. It holds 4,298,112 shares valued at 46.08 million. Vanguard Small Cap Index Fund holds 2.27% of the stake in IOVA, owning 3,587,255 shares worth 38.46 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, IOVA reported revenue of $0.00 and operating income of -$99.73M. Over the past year, revenue came in at $0.00 while operating income stood at -$377.15M. It generated -$99.35M net income for the quarter, which came to -$376.41M over the last twelve months. The EBITDA in the recently reported quarter was -$94.49M and diluted EPS was -$0.63. EBITDA for the full year was -$358.50M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IOVA since 14 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IOVA analysts setting a high price target of $43.00 and a low target of $13.00, the average target price over the next 12 months is $26.38. Based on these targets, IOVA could surge 348.85% to reach the target high and rise by 35.7% to reach the target low. Reaching the average price target will result in a growth of 175.37% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IOVA will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$2.29 being high and -$2.80 being low. For IOVA, this leads to a yearly average estimate of -$2.51. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Iovance Biotherapeutics Inc. surprised analysts by -$0.02 when it reported -$0.63 EPS against a consensus estimate of -$0.61. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.56 and the low estimate is -$0.70. The average estimate for the next quarter is thus -$0.64.

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