ImmunityBio (NASDAQ:IBRX) Sets New 1-Year Low - Should You Sell?

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.61 and last traded at $2.65, with a volume of 5557991 shares trading hands. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. D. Boral Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of ImmunityBio in a report on Thursday, November 21st. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a "strong-buy" rating in a report on Wednesday, October 23rd.

ImmunityBio Stock Up 0.8 %

The stock has a 50 day simple moving average of $4.51 and a 200 day simple moving average of $4.77. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -2.90 and a beta of 0.86.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IBRX. Bank of New York Mellon Corp boosted its holdings in shares of ImmunityBio by 37.9% during the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company's stock valued at $3,928,000 after acquiring an additional 170,742 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in ImmunityBio by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company's stock worth $99,000 after purchasing an additional 4,545 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of ImmunityBio by 727.7% during the second quarter. Private Advisor Group LLC now owns 86,907 shares of the company's stock valued at $549,000 after buying an additional 76,407 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of ImmunityBio during the second quarter worth approximately $118,000. Finally, Rhumbline Advisers grew its holdings in ImmunityBio by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 211,677 shares of the company's stock worth $1,338,000 after buying an additional 24,802 shares in the last quarter. 8.58% of the stock is currently 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.