ImmunityBio (NASDAQ:IBRX) Trading Up 7.8% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded up 7.8% on Monday . The stock traded as high as $4.84 and last traded at $4.84. 2,600,847 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 4,974,280 shares. The stock had previously closed at $4.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a report on Monday, August 19th. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Trading Down 8.9 %

The business has a 50 day moving average of $4.18 and a two-hundred day moving average of $5.21. The firm has a market cap of $3.40 billion, a P/E ratio of -5.26 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in shares of ImmunityBio by 9.3% during the first quarter. ProShare Advisors LLC now owns 70,613 shares of the company’s stock worth $379,000 after acquiring an additional 6,004 shares during the period. Vanguard Group Inc. boosted its stake in ImmunityBio by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock valued at $72,708,000 after purchasing an additional 211,065 shares during the period. Axxcess Wealth Management LLC acquired a new position in ImmunityBio in the 1st quarter valued at $85,000. Lazard Asset Management LLC increased its position in ImmunityBio by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after buying an additional 6,593 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of ImmunityBio by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company’s stock worth $667,000 after buying an additional 4,533 shares in the last quarter. Institutional investors and hedge funds 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.