The stock of Iovance Biotherapeutics Inc. (NASDAQ:IOVA) increased by $0.06 on Monday to finish at $7.12, up 0.85 percent. The last five days have seen an average of 5,133,000 shares of common stock traded. 8 times new highs were reached in the current year, with a gain of $0.73. The average number of shares traded over the last 20 days was 4,101,215, while the average volume over the last 50 days totaled 5,389,166.
IOVA stock dropped -8.25% since last month. On 08/11/23, the company’s shares reached a one-month low of $6.80. The stock touched a high of $13.32 on 05/23/23, after rallying from a low of $5.28 in 52 weeks. The price of IOVA stock has risen by 11.42% or $0.73 this year, reaching a new high 8 times. Still, the stock price is down -46.55% from the 52-week high.
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Insider Transactions
IOVA stock investors should be aware that Iovance Biotherapeutics Inc. (IOVA) stock had its last reported insider trading activity 237 days ago on Dec 21. On Dec 21, Director MCPEAK MERRILL A acquired 10,000 shares at $6.15 each. This transaction resulted in the insider spending $61,500. On Dec 02, Rothbaum Wayne P. added 10,000,000 shares at a price of US$6.50. After the transaction, the insider now owns 18,067,333 shares. Director MCPEAK MERRILL A had earlier bought 10,000 shares on Nov 29 for $6.31 a share. The transaction was completed for $63,100.
Valuation Metrics
Beta for the stock is 0.07. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 8968.00, the price-to-book (PB) ratio of 2.76.
Financial Health
For the three months ended June 29, Iovance Biotherapeutics Inc.’s quick ratio was 3.00, while its current ratio was 3.10, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IOVA’s return on assets (ROA) during the last 12 months has been -60.00%. In the meantime, the return on equity (ROE) for the last 12 months was -78.30%.
Earnings Surprise
According to Iovance Biotherapeutics Inc.’s quarterly financial report for the quarter that ended June 29, it had $1.0 million in total debt versus $20.88 million in cash and short-term investments. Net income for the quarter came in at $0.24 million, while revenues rose by 100.0% to $0.0. It was predicted that Iovance Biotherapeutics Inc.’s quarterly earnings would be -$0.47, but it ended up being -$0.8, beating the consensus by 41.30%. EBITDA was -$101.27 million for the quarter. At the end of Iovance Biotherapeutics Inc.’s most recent quarter ended June 29, its liabilities totaled 178.72 million, while its total debt was $80.71 million. Equity owned by shareholders amounts to $247.78 million.
Technical Picture
Here’s a quick look at Iovance Biotherapeutics Inc.’s (IOVA) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 44.43%, suggesting the stock is Neutral, with a 48.16% historical volatility rate.
The stochastic %K and %D were 25.27% and 33.47% respectively, while the average true range (ATR) was 0.40. Based on the 14-day stochastic reading of 28.32%, the RSI (14) reading is 45.09%. On the 9-day MACD Oscillator, the stock is at -0.08, and the 14-day reading is at -0.06.
Analyst Ratings
In its most recent analyst report, Wells Fargo raised its rating on Iovance Biotherapeutics Inc. (NASDAQ: IOVA) to an Overweight. Prior to this, analysts firm rated the stock as an Equal weight. Analysts have assigned Iovance Biotherapeutics Inc. (IOVA) an Buy rating. IOVA is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 10 others recommend it as a buy.
What is IOVA’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $40.00, with a median target price of $20.00. In analyzing these forecasts, the average price target given by analysts for Iovance Biotherapeutics Inc. (IOVA) is $24.55.
