Iovance Biotherapeutics Inc. (NASDAQ:IOVA) finished Friday with an addition of $0.07 to close at $6.15, an upside of 1.15 percent. An average of 3,044,380 shares of common stock have been traded in the last five days. There was a gain of $0.08 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 4,511,995 shares traded, while the 50-day average volume stands at 5,229,492.
IOVA stock has decreased by -12.52% in the last month. The company shares reached their 1-month lowest point of $5.98 on 08/25/23. With the stock rallying to its 52-week high on 05/23/23, shares of the company touched a low of $5.28 and a high of $11.93 in 52 weeks. It has reached a new high 8 times so far this year and lost -3.76% or -$0.24 in price. In spite of this, the price is down -48.45% from the 52-week high.
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Valuation Metrics
Iovance Biotherapeutics Inc. (IOVA) stock’s beta is 0.12. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7856.63, the price-to-book (PB) ratio at 2.38.
Financial Health
The quick ratio of Iovance Biotherapeutics Inc. for the three months ended June 29 was 3.00, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Iovance Biotherapeutics Inc.’s return on assets was -60.00%.
Earnings Surprise
For the three-month period that ended June 29, Iovance Biotherapeutics Inc. had $1.0 million in total debt. The company posted a net income of -$106.53 million in the quarter, while revenues were grew 6.74%. The analyst consensus anticipated Iovance Biotherapeutics Inc.’s latest quarter earnings to come in at -$0.8 per share, but it turned out to be -$0.47, a 41.30% surprise. For the quarter, EBITDA amounted to -$101.27 million. Shareholders own equity worth $247.78 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Iovance Biotherapeutics Inc. (IOVA) price momentum. RSI 9-day as of the close on 25 August was 34.70%, suggesting the stock is Neutral, with historical volatility in this time frame at 75.43%.
As of today, IOVA’s price is $6.24 +1.32% or $0.08 from its 5-day moving average. IOVA is currently trading -14.58% lower than its 20-day SMA and -2.07% lower than its 100-day SMA. However, the stock’s current price level is -29.07% below the SMA50 and -25.09% below the SMA200.
The stochastic %K and %D were 9.64% and 13.29%, respectively, and the average true range (ATR) was 0.39. With the 14-day stochastic at 8.72% and the average true range at 0.40, the RSI (14) stands at 37.09%. The stock has reached -0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.54.
Analyst Ratings
Wells Fargo upgraded Iovance Biotherapeutics Inc. (NASDAQ: IOVA) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Iovance Biotherapeutics Inc. (IOVA) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IOVA, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 10 others rate it as a “buy”.
What is IOVA’s price target for the next 12 months?
Analysts predict a range of price targets between $14.00 and $40.00, with a median target of $20.00. Taking a look at these predictions, the average price target given by analysts for Iovance Biotherapeutics Inc. (IOVA) stock is $24.55.
