ImmunityBio (NASDAQ:IBRX) Shares Gap Down - Here's What Happened

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $3.29, but opened at $3.20. ImmunityBio shares last traded at $3.09, with a volume of 1,764,031 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IBRX shares. BTIG Research assumed coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a "buy" rating and a $6.00 price objective on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $30.00 price target on shares of ImmunityBio in a research note on Friday, February 28th. Finally, HC Wainwright initiated coverage on ImmunityBio in a research note on Thursday. They issued a "buy" rating and a $8.00 price objective for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ImmunityBio currently has a consensus rating of "Buy" and a consensus target price of $12.19.

ImmunityBio Price Performance

The business's fifty day moving average price is $3.05 and its 200-day moving average price is $3.72. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -3.25 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $8.74 million. Equities research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its stake in shares of ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company's stock worth $402,000 after acquiring an additional 80,318 shares in the last quarter. Intech Investment Management LLC purchased a new position in ImmunityBio during the third quarter worth about $253,000. Charles Schwab Investment Management Inc. grew its position in ImmunityBio by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company's stock worth $4,709,000 after purchasing an additional 29,665 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in ImmunityBio in the 3rd quarter valued at about $257,000. Finally, Quantbot Technologies LP bought a new position in shares of ImmunityBio during the 3rd quarter worth approximately $143,000. 8.58% of the stock is owned by hedge funds and other 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.