ImmunityBio (NASDAQ:IBRX) Shares Gap Up – Still a Buy?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) gapped up before the market opened on Friday . The stock had previously closed at $3.04, but opened at $3.20. ImmunityBio shares last traded at $3.20, with a volume of 3,485,915 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BTIG Research assumed coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, D. Boral Capital reiterated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Thursday.

ImmunityBio Trading Down 0.2 %

The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -3.30 and a beta of 0.86. The stock has a 50-day moving average of $3.74 and a two-hundred day moving average of $4.25.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in ImmunityBio by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock worth $126,000 after acquiring an additional 2,746 shares during the period. Wealth Effects LLC boosted its position in ImmunityBio by 3.4% during the 3rd quarter. Wealth Effects LLC now owns 90,500 shares of the company’s stock worth $337,000 after acquiring an additional 3,000 shares during the period. Exchange Traded Concepts LLC boosted its position in ImmunityBio by 8.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,984 shares of the company’s stock worth $178,000 after acquiring an additional 3,722 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in ImmunityBio by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after acquiring an additional 4,545 shares during the period. Finally, Courier Capital LLC boosted its position in ImmunityBio by 50.0% during the 3rd quarter. Courier Capital LLC now owns 30,000 shares of the company’s stock worth $112,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds 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.