ImmunityBio (NASDAQ:IBRX) Stock Price Down 5.6% – Here’s Why

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $2.51 and last traded at $2.53. 3,579,558 shares changed hands during trading, a decline of 29% from the average session volume of 5,063,778 shares. The stock had previously closed at $2.68.

Wall Street Analysts Forecast Growth

IBRX has been the topic of several research analyst reports. D. Boral Capital reissued a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research note on Friday, December 20th. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Stock Down 4.9 %

The business has a 50-day moving average price of $4.38 and a two-hundred day moving average price of $4.58. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2.77 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of ImmunityBio in the 3rd quarter worth about $51,000. Barclays PLC raised its stake in shares of ImmunityBio by 127.4% in the third 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. XTX Topco Ltd boosted its position in shares of ImmunityBio by 309.4% during the third quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock valued at $346,000 after buying an additional 70,215 shares during the last quarter. State Street Corp grew its holdings in ImmunityBio by 10.1% during the third 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 in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in ImmunityBio in the 3rd quarter valued at $136,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

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.