ImmunityBio (NASDAQ:IBRX) Trading Down 5.3% – What’s Next?

by · The Markets Daily

ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) traded down 5.3% on Monday . The stock traded as low as $4.96 and last traded at $5.00. 529,419 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,923,129 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler dropped their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research note on Monday, August 19th. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

View Our Latest Stock Analysis on IBRX

ImmunityBio Price Performance

The company has a 50 day moving average of $3.88 and a two-hundred day moving average of $5.35. The company has a market capitalization of $3.85 billion, a PE ratio of -5.61 and a beta of 0.99.

ImmunityBio (NASDAQ:IBRX – Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.05 million for the quarter, compared to the consensus estimate of $2.53 million. On average, equities analysts anticipate that ImmunityBio, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IBRX. Bleakley Financial Group LLC bought a new position in shares of ImmunityBio during the first quarter valued at $58,000. Lazard Asset Management LLC increased its stake in ImmunityBio by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock valued at $68,000 after purchasing an additional 6,593 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in ImmunityBio in the first quarter worth about $85,000. Algert Global LLC bought a new position in shares of ImmunityBio in the second quarter worth approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ImmunityBio by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after buying an additional 4,545 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

About ImmunityBio

(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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