ImmunityBio (NASDAQ:IBRX) Trading Up 7.8% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shot up 7.8% during mid-day trading on Monday . The stock traded as high as $4.84 and last traded at $4.84. 2,600,847 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,974,280 shares. The stock had previously closed at $4.49.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Monday, August 19th. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Stock Performance

The stock has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $5.26. The firm has a market cap of $3.49 billion, a PE ratio of -5.42 and a beta of 0.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new stake in ImmunityBio in the 3rd quarter worth approximately $41,000. Bleakley Financial Group LLC purchased a new position in shares of ImmunityBio in the 1st quarter worth $58,000. Lazard Asset Management LLC grew its holdings in shares of ImmunityBio by 102.6% in the first quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after acquiring an additional 6,593 shares during the period. Axxcess Wealth Management LLC purchased a new stake in ImmunityBio during the first quarter valued at $85,000. Finally, Algert Global LLC bought a new position in ImmunityBio in the second quarter valued at about $86,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.