ImmunityBio (NASDAQ:IBRX) Stock Price Down 3.9% – What’s Next?

by · The Markets Daily

Shares of ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) traded down 3.9% on Wednesday . The company traded as low as $5.13 and last traded at $5.14. 529,559 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,960,315 shares. The stock had previously closed at $5.35.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several research reports. 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 upgraded ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

Get Our Latest Analysis on ImmunityBio

ImmunityBio Stock Performance

The company has a market capitalization of $3.37 billion, a PE ratio of -5.41 and a beta of 0.99. The stock has a fifty day moving average of $4.18 and a 200 day moving average of $5.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new position in shares of ImmunityBio in the 3rd quarter worth approximately $41,000. Virtu Financial LLC purchased a new stake in shares of ImmunityBio during the third quarter worth about $51,000. Lazard Asset Management LLC raised its holdings in shares of ImmunityBio by 102.6% during the first quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock valued at $68,000 after acquiring an additional 6,593 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in ImmunityBio during the 1st quarter worth $85,000. Finally, Algert Global LLC purchased a new stake in ImmunityBio during the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

(Get Free Report)

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.

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