ImmunityBio (NASDAQ:IBRX) Sees Large Volume Increase

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) saw an uptick in trading volume on Friday . 11,462,745 shares traded hands during mid-day trading, an increase of 153% from the previous session’s volume of 4,531,350 shares.The stock last traded at $6.33 and had previously closed at $5.11.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, March 25th.

ImmunityBio Trading Up 43.8 %

The business’s fifty day moving average price is $5.25 and its 200 day moving average price is $4.21. The company has a market capitalization of $4.98 billion, a P/E ratio of -6.34 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates 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. Equities research analysts anticipate that ImmunityBio, Inc. will post -0.68 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of ImmunityBio by 42.0% during the 3rd quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock worth $24,802,000 after acquiring an additional 4,342,386 shares during the period. Armistice Capital LLC acquired a new stake in shares of ImmunityBio during the 3rd quarter worth about $5,874,000. Stratos Wealth Partners LTD. acquired a new stake in shares of ImmunityBio during the 4th quarter worth about $171,000. SG Americas Securities LLC increased its position in shares of ImmunityBio by 45.4% during the 4th quarter. SG Americas Securities LLC now owns 49,005 shares of the company’s stock worth $246,000 after purchasing an additional 15,308 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of ImmunityBio by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 58,136 shares of the company’s stock worth $98,000 after purchasing an additional 10,596 shares in the last quarter. 8.58% of the stock is owned by institutional investors.

ImmunityBio Company Profile

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.