Iovance Biotherapeutics Inc [NASDAQ: IOVA] stock went on a downward path that fall over -5.54% on Firday, amounting to a one-week price decrease of less than -6.49%. The company report on March 4, 2024 at 6:30 AM that Iovance Biotherapeutics Announces FDA has Lifted Clinical Hold on the IOV-LUN-202 Registrational Trial in Non-Small Cell Lung Cancer.
The IOV-LUN-202 trial is investigating LN-145 in patients with advanced (unresectable or metastatic) NSCLC without EGFR, ROS or ALK genomic mutations who were previously treated with chemotherapy and anti-PD-1 therapy and at least one line of an approved targeted therapy if indicated by other actionable tumor mutations. Iovance expects to complete enrollment of approximately 120 patients in the IOV-LUN-202 registrational cohorts in 2025.
Over the last 12 months, IOVA stock rose by 126.22%. The one-year Iovance Biotherapeutics Inc stock forecast points to a potential upside of 39.43. The average equity rating for IOVA stock is currently 1.29, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.39 billion, with 256.14 million shares outstanding and 214.70 million shares in the current float. Compared to the average trading volume of 10.66M shares, IOVA stock reached a trading volume of 11422764 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 $25.92 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 1.29. 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.
Goldman have made an estimate for Iovance Biotherapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 20, 2023. While these analysts kept the previous recommendation, Barclays dropped their target price from $40 to $18. The new note on the price target was released on September 18, 2023, representing the official price target for Iovance Biotherapeutics Inc stock. Previously, the target price had yet another raise from $11 to $17, while Wells Fargo kept a Overweight rating on IOVA stock.
The Average True Range (ATR) for Iovance Biotherapeutics Inc is set at 1.35, with the Price to Sales ratio for IOVA stock in the period of the last 12 months amounting to 3685.01. The Price to Book ratio for the last quarter was 6.88, with the Price to Cash per share for the same quarter was set at 1.00.
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 -6.49. With this latest performance, IOVA shares gained by 94.55% in over the last four-week period, additionally plugging by 170.69% over the last 6 months – not to mention a rise of 126.22% 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 61.69, with the RSI for the last a single of trading hit 56.47, and the three-weeks RSI is set at 63.57 for Iovance Biotherapeutics Inc [IOVA]. The present Moving Average for the last 50 days of trading for this stock 10.61, while it was recorded at 16.59 for the last single week of trading, and 7.34 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 2.70 and a Current Ratio set at 2.79.
IOVA Stock EPS
With the latest financial reports released by the company, Iovance Biotherapeutics Inc posted -0.5/share EPS, while the average EPS was predicted by analysts to be reported at -0.74/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IOVA.
Iovance Biotherapeutics Inc [IOVA] Institutonal Ownership Details
The top three institutional holders of IOVA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IOVA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IOVA stock with ownership which is approximately 5.8325%.
