Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Rises By 12.6%

ImmunityBio, Inc. (NASDAQ:IBRX) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 50,010,000 shares, an increase of 12.6% from the December 31st total of 44,410,000 shares. Based on an average daily volume of 6,580,000 shares, the days-to-cover ratio is currently 7.6 days.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several research analyst reports. D. Boral Capital restated a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Monday, January 27th. BTIG Research initiated coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. Finally, EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

Institutional Trading of ImmunityBio

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Effects LLC increased its position in shares of ImmunityBio by 3.4% in the third quarter. Wealth Effects LLC now owns 90,500 shares of the company’s stock worth $337,000 after acquiring an additional 3,000 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of ImmunityBio by 8.4% in the third quarter. Exchange Traded Concepts LLC now owns 47,984 shares of the company’s stock worth $178,000 after acquiring an additional 3,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ImmunityBio by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after acquiring an additional 4,545 shares in the last quarter. Courier Capital LLC increased its position in shares of ImmunityBio by 50.0% in the third quarter. Courier Capital LLC now owns 30,000 shares of the company’s stock worth $112,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of ImmunityBio in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Price Performance

Shares of ImmunityBio stock traded down $0.25 during trading on Monday, hitting $3.20. 4,468,574 shares of the stock were exchanged, compared to its average volume of 6,688,516. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.94. The firm’s 50-day moving average price is $3.29 and its 200 day moving average price is $3.95. ImmunityBio has a 12-month low of $2.28 and a 12-month high of $10.53.

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.