ImmunityBio (NASDAQ:IBRX) Stock Price Up 7.8% – Here’s What Happened

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) traded up 7.8% on Monday . The stock traded as high as $2.92 and last traded at $2.84. 1,766,412 shares were traded during mid-day trading, a decline of 69% from the average session volume of 5,725,808 shares. The stock had previously closed at $2.63.

Analysts Set New Price Targets

IBRX has been the topic of several recent analyst reports. D. Boral Capital restated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a report on Wednesday, April 9th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a report on Thursday, March 13th. Finally, BTIG Research began coverage on ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Trading Up 8.7 %

The business has a fifty day simple moving average of $3.01 and a two-hundred day simple moving average of $3.53. The stock has a market cap of $2.44 billion, a PE ratio of -3.11 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. On average, research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of ImmunityBio by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after purchasing an additional 425,713 shares during the last quarter. State Street Corp grew its holdings in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares during the last quarter. Woodline Partners LP increased its position in shares of ImmunityBio by 682.7% during the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares in the last quarter. Tang Capital Management LLC purchased a new position in ImmunityBio in the 4th quarter worth approximately $7,204,000. Finally, Northern Trust Corp lifted its position in ImmunityBio by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after acquiring an additional 97,348 shares in the last quarter. Hedge funds and other institutional investors 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.