We recently published a list of 10 Firms End 2024 Stronger With Impressive Gains. In this article, we are going to take a look at where Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) stands against other firms end 2024 stronger with impressive gains.
A lackluster trading persisted throughout the last day of the year, with Wall Street’s main indices ending the day mixed.
The Dow Jones Industrial Average dipped by 0.07 percent, the S&P 500 shed 0.43 percent, and the Nasdaq Composite declined by 0.90 percent. Meanwhile, NYSE Composite inched up by 0.10 percent and S&P Composite rose by 0.44 percent.
Despite the lack of catalysts to spark trading, 10 companies–predominantly in the biopharmaceuticals sector–posted impressive gains. Let’s explore the reasons behind their outstanding performance.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A medical staff in white coats monitoring the progress of cancer immunotherapy trials.
Iovance Biotherapeutics Inc. (NASDAQ:IOVA)
Iovance Biotherapeutics (NASDAQ:IOVA) saw its share price during the last trading day of the year rise by 3.21 percent, ending the day at $7.40 apiece.
According to analysts, investors resorted to bargain-hunting after the company fell to a 52-week low of $7.06 on Monday.
The company’s stock price year-to-date also marked an 8.6 percent drop from $8.1 each, with analysts noting that investors were cautious as the company navigates through a complex landscape of clinical trials and regulatory hurdles which has impacted its stock performance.
With a market capitalization of $2.17 billion, the company was also believed to be undervalued.
Iovance Biotherapeutics (IOVA) is a biopharmaceutical company that aims to be a global leader in innovating, developing, and delivering tumor-infiltrating lymphocyte therapy for people with cancer.
Overall, IOVA ranks 10th on our list of firms end 2024 stronger with impressive gains. While we acknowledge the potential of IOVA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IOVA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.