Iovance Biotherapeutics, Inc. (IOVA) Price Action Raises Questions

The stock of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has been Initiated to Overweight by Piper Jaffray in its latest research note that was published on April 29. IOVA was given a price target of $20, with other Wall Street analysts also giving their reports regarding the stock. Chardan Capital Markets analysts again handed out a Buy rating to IOVA stock but they lifted target price for the shares in a flash note to investors on February 28. The price target has been raised from $30 to $20.

Iovance Biotherapeutics, Inc. currently have the market capitalization of above $3 Billion, published in its last quarter earnings report.

IOVA surged by $0.59 during the normal trading session on Thursday and reaching a high of $21.17 during the day while it closed the day at $20.72. The Iovance stock had a low trading volume of 1.37 million shares on that day, which is low compared to the average daily volume of 1.45M shares. IOVA has also lost 1.47% of its value over the past 7 days. However, the stock has surged by 6.86% in the 3 months of the year. Over the past six months meanwhile, it has gained 107.20% while it has added 134.12% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -22.08% from its 3 months high price. However, taking another look at IOVA will indicate that it is trading +10.33% away from its 90-day low. Looking at the bigger picture, the Iovance Biotherapeutics, Inc. stock has dropped by -22.08% from its 52-week high while it has surged by +185.4% from its 52-week low price.

On December 18, 2018 Dukes Iain D., Director bought 12000 shares of the company. The average price for that transaction was $8.65 per share, which meant that Dukes Iain D. spent $103800 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, MCPEAK MERRILL A purchasing 10000 shares of this stock on December 13, 2018. The average purchasing price for the stock was $9.63 per share, with the purchased stock accruing $96300. Following this transaction, the Director MCPEAK MERRILL A now holds 7067333 shares of the company, which is worth around $145000000.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 21.19%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 64.47%. Over the past 20 days, Iovance’s Stochastic %K stood at 53.39% while its Stochastic %D was revealed to be 44.15%.