A Technical View of the Iovance Biotherapeutics Inc. (IOVA)

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Iovance Biotherapeutics Inc. (NASDAQ:IOVA) saw an upside of 11.64% to close Monday at $7.00 after adding $0.73 on the day. The 5-day average trading volume is 4,729,720 shares of the company’s common stock. It has gained $7.11 in the past week and touched a new high 3 times within the past 5 days. An average of 3,710,655 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,898,776.

IOVA’s 1-month performance is 14.75% or $0.88 on its low of $5.59 reached on 12/28/22. The company’s shares have touched a 52-week low of $5.42 and high of $18.73, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, IOVA has achieved 9.55% or $0.61 and has reached a new high 3 times. However, the current price is down -62.63% from the 52-week high price.

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Valuation Metrics

IOVA stock has a beta of 0.12. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 2.81.

Iovance Biotherapeutics Inc.’s quick ratio for the period ended September 29 was 4.70, with the current ratio over the same period at 4.70.

Earnings Surprise

For the quarterly period ending September 29 this year, Iovance Biotherapeutics Inc.’s cash and short-term investments amounted to $241.81 million against total debt of $80.11 million. Net income grew 13.55% to -$99.62 million, while revenue of -$99.35 million was 0.27% off the previous quarter. Analysts expected IOVA to announce -$0.64 per share in earnings in its latest quarter, but it posted -$0.63, representing a 1.60% surprise. IOVA stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 152.19 million, with total debt at $80.11 million. Shareholders hold equity totaling $157.84 million.

Let’s look briefly at Iovance Biotherapeutics Inc. (IOVA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 67.93% to suggest the stock is trending Neutral, with historical volatility in this time period at 63.76%.

The stock’s 5-day moving average is $6.43, reflecting a +10.24% or $0.65 change from its current price. IOVA is currently trading +15.70% above its 20-day SMA, -34.58% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -15.46% and SMA200 by-57.73%.

Stochastic %K and %D was 58.79% and 56.11% and the average true range (ATR) pointed at 0.42. The RSI (14) points at 59.56%, while the 14-day stochastic is at 90.38% with the period’s ATR at 0.43. The stock’s 9-day MACD Oscillator is pointing at 0.11 and 0.15 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Iovance Biotherapeutics Inc. (NASDAQ: IOVA), Goldman downgraded it to a Neutral rating. They previously had a Buy rating on the stock.

What is IOVA’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $6.00 and a high of $40.00, with their median price target at $24.50. Looking at these predictions, the average price target given by analysts is for Iovance Biotherapeutics Inc. (IOVA) stock is $23.33.

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