Iovance Biotherapeutics Inc. (NASDAQ: IOVA) stock jumped 13.46% on Friday to $5.27 against a previous-day closing price of $4.64. With 53.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.08 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $5.97 whereas the lowest price it dropped to was $5.13. The 52-week range on IOVA shows that it touched its highest point at $11.88 and its lowest point at $4.41 during that stretch. It currently has a 1-year price target of $22.36. Beta for the stock currently stands at 0.10.
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 -11.43%, but this was down by -23.62% over a month. Three-month performance dropped to -39.00% while six-month performance fell -20.39%. The stock lost -52.39% in the past year, while it has lost -17.53% so far this year. A look at the trailing 12-month EPS for IOVA yields -2.25 with Next year EPS estimates of -1.43. For the next quarter, that number is -0.45. This implies an EPS growth rate of -11.40% for this year and 24.50% for next year.
Float and Shares Shorts:
At present, 247.78 million IOVA shares are outstanding with a float of 232.91 million shares on hand for trading. On Aug 30, 2023, short shares totaled 30.07 million, which was 12.14% higher than short shares on Jul 30, 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.
Through their ownership of 91.40% of IOVA’s outstanding shares, institutional investors have majority control over the company.
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, 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.
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 $38.00 and a low target of $14.00, the average target price over the next 12 months is $22.36. Based on these targets, IOVA could surge 621.06% to reach the target high and rise by 165.65% to reach the target low. Reaching the average price target will result in a growth of 324.29% 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.