ImmunityBio (NASDAQ:IBRX) Trading Down 4.2% – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $3.07 and last traded at $3.09. 2,130,970 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,507,664 shares. The stock had previously closed at $3.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. D. Boral Capital reissued a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a report on Thursday, January 16th. Finally, EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Stock Up 1.6 %

The company’s fifty day moving average price is $3.51 and its 200 day moving average price is $4.12. The company has a market capitalization of $2.21 billion, a P/E ratio of -3.45 and a beta of 0.86.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors bought a new position in shares of ImmunityBio during the third quarter worth approximately $41,000. Algert Global LLC bought a new position in ImmunityBio in the second quarter valued at approximately $86,000. Virtu Financial LLC bought a new position in ImmunityBio in the third quarter valued at approximately $51,000. Mutual Advisors LLC bought a new position in ImmunityBio in the fourth quarter valued at approximately $41,000. Finally, Dimensional Fund Advisors LP bought a new position in ImmunityBio in the second quarter valued at approximately $105,000. 8.58% of the stock is owned by institutional investors.

ImmunityBio Company Profile

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.