ImmunityBio Sees Unusually Large Options Volume (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 23,649 call options on the company. This is an increase of 308% compared to the typical daily volume of 5,801 call options.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $5.49 on Wednesday. The company has a market capitalization of $3.72 billion, a P/E ratio of -4.73 and a beta of 1.23. ImmunityBio has a 52-week low of $1.25 and a 52-week high of $6.93. The company’s 50 day moving average price is $5.19 and its 200-day moving average price is $4.14.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share (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 analysts’ expectations of $0.03 million. Analysts forecast that ImmunityBio will post -0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Effects LLC lifted its position in shares of ImmunityBio by 10.1% during the 1st quarter. Wealth Effects LLC now owns 65,500 shares of the company’s stock valued at $352,000 after acquiring an additional 6,000 shares during the period. Courier Capital LLC lifted its position in shares of ImmunityBio by 33.3% during the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after acquiring an additional 5,000 shares during the period. Brookstone Capital Management acquired a new position in shares of ImmunityBio during the 1st quarter valued at $100,000. Virtu Financial LLC acquired a new position in shares of ImmunityBio during the 4th quarter valued at $304,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of ImmunityBio by 43.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock valued at $47,000 after acquiring an additional 2,844 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 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.