Iovance Biotherapeutics (IOVA) Surges 31.5%: Is This an Indication of Further Gains?

Iovance Biotherapeutics (IOVA) shares ended the last trading session 31.5% higher at $14.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 34.5% gain over the past four weeks.

The stock rallied after the company raised its full-year 2026 total revenue guidance. Iovance now expects total revenue of $410-$420 million, up from the previous guidance of $350-$370 million in 2026.

This biotechnology company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +52%. Revenues are expected to be $106.85 million, up 58.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Iovance Biotherapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IOVA going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Iovance Biotherapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Janux Therapeutics, Inc. (JANX), finished the last trading session 2.2% higher at $16.95. JANX has returned -9% over the past month.

Janux Therapeutics' consensus EPS estimate for the upcoming report has changed +5.7% over the past month to -$0.45. Compared to the company's year-ago EPS, this represents a change of -15.4%. Janux Therapeutics currently boasts a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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