Iovance Biotherapeutics Inc (NASDAQ: IOVA) stock jumped 14.77% on Friday to $5.05 against a previous-day closing price of $4.40. With 13.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 6.36 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $5.07 whereas the lowest price it dropped to was $4.44. The 52-week range on IOVA shows that it touched its highest point at $9.36 and its lowest point at $3.21 during that stretch. It currently has a 1-year price target of $21.18. Beta for the stock currently stands at 0.16.
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 27.20%, but this was up by 53.03% over a month. Three-month performance dropped to -19.71% while six-month performance fell -31.39%. The stock lost -30.73% in the past year, while it has lost -20.97% so far this year. A look at the trailing 12-month EPS for IOVA yields -2.08 with Next year EPS estimates of -1.41. For the next quarter, that number is -0.45. This implies an EPS growth rate of 24.43% for this year and 25.20% for next year.
Float and Shares Shorts:
At present, 255.92 million IOVA shares are outstanding with a float of 197.87 million shares on hand for trading. On Oct 30, 2023, short shares totaled 38.86 million, which was 15.19% higher than short shares on Sep 28, 2023. In addition to Dr. Frederick G. Vogt Esq., J.D., Ph.D. as the firm’s Interim CEO, President, General Counsel & Corporate Secretary, 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. Other institutions hold 9.70% of IOVA, in contrast to 39.55% held by mutual funds. Shares owned by individuals account for 36.07%. As the largest shareholder in IOVA with 8.77% of the stake, The Vanguard Group, Inc. holds 21,740,459 shares worth 21,740,459. A second-largest stockholder of IOVA, SSgA Funds Management, Inc., holds 16,732,269 shares, controlling over 6.75% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in IOVA, holding 16,217,506 shares or 6.55% stake. With a 5.23% stake in IOVA, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 12,966,173 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.86% of IOVA stock, is the second-largest Mutual Fund holder. It holds 7,089,469 shares valued at 27.08 million. Vanguard Small Cap Index Fund holds 2.33% of the stake in IOVA, owning 5,768,361 shares worth 22.04 million.
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 $30.00 and a low target of $14.00, the average target price over the next 12 months is $21.18. Based on these targets, IOVA could surge 494.06% to reach the target high and rise by 177.23% to reach the target low. Reaching the average price target will result in a growth of 319.41% from current levels.