Iovance Biotherapeutics, Inc. IOVA was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 77.8% in the past one-month time frame.
The stock gained after the company’s phase 2 studies of its LN-145 tumor-infiltrating lymphocyte technology, which is used for cancer treatment, showed confirmed partial responses. The company also announced the closing of a public offering of 15,000,000 shares of its common stock on Jan 29, 2018.
The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Iovance Biotherapeutics. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Iovance Biotherapeutics currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
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A better-ranked stock in the Medical – Biomedical and Genetics industry is Bioverativ Inc. BIVV, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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