ImmunityBio (NASDAQ:IBRX) Trading Down 5.2% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded down 5.2% during trading on Tuesday . The company traded as low as $2.32 and last traded at $2.35. 909,176 shares were traded during trading, a decline of 79% from the average session volume of 4,314,528 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IBRX shares. BTIG Research assumed coverage on shares of ImmunityBio in a report on Friday. They issued a “buy” rating and a $6.00 price target on the stock. D. Boral Capital reissued a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Monday, January 6th. Finally, EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

ImmunityBio Stock Down 7.3 %

The firm’s 50-day moving average is $3.91 and its 200-day moving average is $4.30. The company has a market cap of $1.60 billion, a PE ratio of -2.50 and a beta of 0.86.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock valued at $4,709,000 after acquiring an additional 29,665 shares in the last quarter. Barclays PLC raised its position in shares of ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after purchasing an additional 202,248 shares during the last quarter. Rhumbline Advisers boosted its stake in ImmunityBio by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 211,677 shares of the company’s stock worth $1,338,000 after purchasing an additional 24,802 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in ImmunityBio by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 133,966 shares of the company’s stock valued at $498,000 after purchasing an additional 52,716 shares in the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.