An interesting stock that came up in some of our conversations today is Iovance Biotherapeutics, Inc. (NASDAQ:IOVA). At current price of $15.81, the shares have already added 4.58 points (40.78% higher) from its previous close of $11.23. Should you buy or avoid them? The stock sets an active trading volume day with a reported 1995744 contracts so far this session. IOVA shares had a relatively better volume day versus average trading capacity of 1.06 million shares, but with a 0.12 billion float and a 3.69% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for IOVA stock indicates that the average analyst price target is $26.22 per share. This means the stock has a potential increase of 65.84% from where the IOVA share price has been trading recently which is between $10.645 and $11.32.
The shorts are running away from Iovance Biotherapeutics, Inc. (IOVA) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in IOVA shares. While short interest still represents only 8.72% of IOVA’s float, the number of shares shorted have fallen by -841675. The number of shares shorted fell to 9802276 shares, down from 10643951 shares during the preceding fortnight. With average daily trading volumes at 957649 shares, days to cover increased to about 6.434808 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Iovance Biotherapeutics Announces Updates to Tumor Infiltrating Lymphocyte (TIL) Therapy Clinical Programs” and dated May 15, 2019.
During the recent trading session for Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), the company witnessed their stock rise $4.37 over a week and surge $4.33 from the price 20 days ago. When compared to their established 52-week high of $18.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/31/18. The recent low of $7.26 stood for a -13.37% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.03 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Iovance Biotherapeutics, Inc., the two-week RSI stands at 77.23. This figure suggests that IOVA stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current IOVA readings is similarly very revealing as it has a stochastic reading of 70.51% at this stage. This figure means that IOVA share price today is being oversold.
Technical chart claims that Iovance Biotherapeutics, Inc. (IOVA) would settle between $11.48/share to $11.74/share level. However, if the stock price goes below the $10.81 mark, then the market for Iovance Biotherapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.39 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray, assumed coverage of IOVA assigning Overweight rating, according to their opinion released on April 29. Chardan Capital Markets analysts again handed out a Buy recommendation to Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stock but they lifted target price for the shares in a flash note issued to investors on February 28. The target price has been raised from $30 to $20. Analysts at Robert W. Baird, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to February 07.
IOVA equity has an average rating of 1.56, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.