Iovance Biotherapeutics Inc. [NASDAQ: IOVA] stock went on a downward path that fall over -6.76% on Friday, amounting to a one-week price decrease of less than -25.45%. The company report on November 18, 2022 that Iovance Biotherapeutics Provides Update on Biologics License Application Submission for Lifileucel in Advanced Melanoma.
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BLA Submission Ongoing with U.S. Food and Drug Administration.
Over the last 12 months, IOVA stock dropped by -65.25%. The one-year Iovance Biotherapeutics Inc. stock forecast points to a potential upside of 73.84. The average equity rating for IOVA stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.12 billion, with 157.82 million shares outstanding and 146.85 million shares in the current float. Compared to the average trading volume of 2.29M shares, IOVA stock reached a trading volume of 12347967 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Iovance Biotherapeutics Inc. [IOVA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IOVA shares is $25.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IOVA stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Guggenheim have made an estimate for Iovance Biotherapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on August 18, 2022, representing the official price target for Iovance Biotherapeutics Inc. stock. Previously, the target price had yet another raise from $23 to $25, while Stifel kept a Buy rating on IOVA stock.
The Average True Range (ATR) for Iovance Biotherapeutics Inc. is set at 0.69 The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 2.13.
IOVA Stock Performance Analysis:
Iovance Biotherapeutics Inc. [IOVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.45. With this latest performance, IOVA shares dropped by -26.03% in over the last four-week period, additionally sinking by -57.10% over the last 6 months – not to mention a drop of -65.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IOVA stock in for the last two-week period is set at 30.24, with the RSI for the last a single of trading hit 25.72, and the three-weeks RSI is set at 33.47 for Iovance Biotherapeutics Inc. [IOVA]. The present Moving Average for the last 50 days of trading for this stock 9.34, while it was recorded at 7.22 for the last single week of trading, and 12.31 for the last 200 days.
Insight into Iovance Biotherapeutics Inc. Fundamentals:
Iovance Biotherapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.
Iovance Biotherapeutics Inc. [IOVA] Insider Position Details
There are presently around $1,023 million, in the hands of institutional investors. The top three institutional holders of IOVA stocks are: VANGUARD GROUP INC with ownership of 14,253,754, which is approximately 6.666% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 11,466,492 shares of the stock with an approximate value of $75.91 million in IOVA stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $67.85 million in IOVA stock with ownership of nearly -13.34% of the company’s market capitalization.
114 institutional holders increased their position in Iovance Biotherapeutics Inc. [NASDAQ:IOVA] by around 13,965,207 shares. Additionally, 118 investors decreased positions by around 21,014,172 shares, while 41 investors held positions by with 119,521,405 shares. The mentioned changes placed institutional holdings at 154,500,784 shares, according to the latest SEC report filing. IOVA stock had 31 new institutional investments in for a total of 3,106,847 shares, while 31 institutional investors sold positions of 5,906,145 shares during the same period.