ImmunityBio (NASDAQ:IBRX) Trading Up 12.6% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were up 12.6% on Friday . The stock traded as high as $3.70 and last traded at $3.74. Approximately 2,034,143 shares traded hands during trading, a decline of 64% from the average daily volume of 5,656,088 shares. The stock had previously closed at $3.32.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IBRX shares. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research note on Friday. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, BTIG Research assumed coverage on shares of ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company.

ImmunityBio Stock Performance

The company’s fifty day moving average price is $3.03 and its 200-day moving average price is $3.84. The stock has a market cap of $2.57 billion, a P/E ratio of -4.04 and a beta of 0.94.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altium Capital Management LLC purchased a new position in ImmunityBio during the 4th quarter valued at about $2,714,000. State Street Corp grew its position in shares of ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares during the last quarter. Vanguard Group Inc. grew 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 buying an additional 425,713 shares during the last quarter. Clearwater Capital Advisors LLC grew its position in shares of ImmunityBio by 75.4% in the 4th quarter. Clearwater Capital Advisors LLC now owns 846,419 shares of the company’s stock worth $2,167,000 after buying an additional 363,870 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of ImmunityBio in the 4th quarter worth approximately $615,000. 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.