ImmunityBio Sees Unusually Large Options Volume (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 12,118 call options on the company. This is an increase of approximately 111% compared to the typical volume of 5,754 call options.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in IBRX. Captrust Financial Advisors acquired a new stake in ImmunityBio in the third quarter valued at $41,000. Algert Global LLC acquired a new position in shares of ImmunityBio during the 2nd quarter worth approximately $86,000. Virtu Financial LLC bought a new stake in ImmunityBio in the 3rd quarter valued at $51,000. Simplicity Wealth LLC lifted its holdings in ImmunityBio by 46.0% during the 2nd quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock valued at $100,000 after purchasing an additional 4,983 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of ImmunityBio in the second quarter valued at $105,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IBRX. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. Piper Sandler lowered their price target on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Finally, D. Boral Capital reissued a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Thursday, November 21st.

ImmunityBio Trading Down 32.1 %

Shares of NASDAQ:IBRX traded down $1.49 during trading on Wednesday, hitting $3.15. 28,636,800 shares of the company were exchanged, compared to its average volume of 4,976,774. ImmunityBio has a fifty-two week low of $3.06 and a fifty-two week high of $10.53. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -3.42 and a beta of 0.86. The firm has a fifty day moving average price of $4.58 and a two-hundred day moving average price of $4.91.

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.