5 Most Shorted Mid-Cap and Small-Cap Stocks to Buy Now

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1. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Short Float: 27.48%

Market Cap: $1.77 Billion

Stock Upside Potential: 123.43%

Number of hedge fund holders: 33

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the most shorted mid-cap and small-cap stocks to buy now. On May 8, Chardan reiterated Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) as a Buy but lowered its price target of the stock  to $14 from $16. The price target cut  is in response to Amtagvi’s launch guidance.

The company delivered solid first-quarter results driven by growth in the tumor-infiltrating lymphocyte (TIL) therapy Amtagvi. The company also reiterated that it is positioned for long-term revenue growth while advancing multiple ongoing and new clinical trials.

Revenue was up 45% year over year to $71 million, driven by accelerating Amtagvi adoption and a better cost structure. For the second quarter, Iovance Biotherapeutics expects revenue of between $86 million and $88 million, ahead of the street estimate of $84.36 million. Amtagvi’s revenue is expected to be between $79 million and $81 million.

For the full year, Iovance is projecting revenue of $350 million to $370 million, compared with $359.7 million that analysts expect. The full-year guidance underscores confidence in the company’s commercialization of Amtagvi amid strong demand.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is a biopharmaceutical company pioneering Tumor-Infiltrating Lymphocyte (TIL) therapies to treat solid tumor cancers. It harnesses the patient’s own immune system by extracting, expanding, and reinfusing these naturally occurring immune cells to recognize and destroy cancer cells.

While we acknowledge the potential of IOVA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IOVA and that has 100x upside potential, check out our report about the cheapest AI stock.

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