Iovance Biotherapeutics Inc. (NASDAQ: IOVA) stock fell -4.71% on Thursday to $7.69 against a previous-day closing price of $8.07. With 9.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.23 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.18 whereas the lowest price it dropped to was $7.12. The 52-week range on IOVA shows that it touched its highest point at $15.63 and its lowest point at $5.28 during that stretch. It currently has a 1-year price target of $21.58. Beta for the stock currently stands at 0.16.
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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 up-trending over the past week, with a rise of 3.36%, but this was up by 40.59% over a month. Three-month performance surged to 9.86% while six-month performance rose 22.45%. The stock lost -46.45% in the past year, while it has gained 20.34% so far this year. A look at the trailing 12-month EPS for IOVA yields -2.40 with Next year EPS estimates of -1.58. For the next quarter, that number is -0.72. This implies an EPS growth rate of -11.40% for this year and 28.50% for next year.
Float and Shares Shorts:
At present, 213.69 million IOVA shares are outstanding with a float of 146.85 million shares on hand for trading. On May 14, 2023, short shares totaled 23.38 million, which was 10.42% higher than short shares on Apr 13, 2023. 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 CFO, Principal Accounting Officer & Treasurer.
Institutional Ownership:
Through their ownership of 89.98% of IOVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.47% of IOVA, in contrast to 49.42% held by mutual funds. Shares owned by individuals account for 33.92%. As the largest shareholder in IOVA with 6.84% of the stake, Perceptive Advisors LLC holds 15,339,735 shares worth 15,339,735. A second-largest stockholder of IOVA, SSgA Funds Management, Inc., holds 13,733,033 shares, controlling over 6.12% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in IOVA, holding 13,315,358 shares or 5.94% stake. With a 4.21% stake in IOVA, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 9,435,881 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.88% of IOVA stock, is the second-largest Mutual Fund holder. It holds 4,216,673 shares valued at 23.78 million. Vanguard Small Cap Index Fund holds 1.56% of the stake in IOVA, owning 3,500,561 shares worth 19.74 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 Mar 30, 2023, IOVA reported revenue of $0.00 and operating income of -$99.73M. The EBITDA in the recently reported quarter was -$94.49M and diluted EPS was -$0.63.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IOVA since 0 analysts follow the stock currently. 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 $40.00 and a low target of $6.00, the average target price over the next 12 months is $21.69. Based on these targets, IOVA could surge 420.16% to reach the target high and fall by -21.98% to reach the target low. Reaching the average price target will result in a growth of 182.05% 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.
