ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.92

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.92, but opened at $5.09. ImmunityBio shares last traded at $4.98, with a volume of 315,007 shares.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price objective on shares of ImmunityBio from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th.

ImmunityBio Stock Performance

The firm’s 50 day moving average price is $5.15 and its two-hundred day moving average price is $4.02.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.03 million. Research analysts predict that ImmunityBio, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Courier Capital LLC grew its stake in ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after buying an additional 5,000 shares during the last quarter. Brookstone Capital Management acquired a new position in ImmunityBio in the 1st quarter valued at about $100,000. American International Group Inc. grew its stake in ImmunityBio by 15.9% in the 4th quarter. American International Group Inc. now owns 65,902 shares of the company’s stock valued at $331,000 after buying an additional 9,043 shares during the last quarter. Virtu Financial LLC acquired a new position in ImmunityBio in the 4th quarter valued at about $304,000. Finally, Price T Rowe Associates Inc. MD grew its stake in ImmunityBio by 8.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 119,346 shares of the company’s stock valued at $601,000 after buying an additional 8,834 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.