ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s share price fell 5.1% during mid-day trading on Tuesday . The company traded as low as $2.61 and last traded at $2.58. 1,430,794 shares traded hands during trading, a decline of 75% from the average session volume of 5,649,166 shares. The stock had previously closed at $2.72.
Analysts Set New Price Targets
A number of research firms recently issued reports on IBRX. BTIG Research initiated coverage on ImmunityBio in a report on Friday, January 10th. They issued a "buy" rating and a $6.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $30.00 target price on shares of ImmunityBio in a report on Wednesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $12.19.
Check Out Our Latest Report on ImmunityBio
ImmunityBio Price Performance
The company's 50 day simple moving average is $3.01 and its 200 day simple moving average is $3.54. The company has a market capitalization of $2.24 billion, a PE ratio of -2.86 and a beta of 0.51.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analysts' expectations of $8.74 million. On average, equities analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current year.
Institutional Investors Weigh In On ImmunityBio
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBRX. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at $26,000. Thrive Wealth Management LLC purchased a new position in ImmunityBio during the 1st quarter worth $30,000. Cibc World Markets Corp acquired a new position in ImmunityBio in the fourth quarter valued at $35,000. Maia Wealth LLC purchased a new stake in shares of ImmunityBio in the fourth quarter valued at about $37,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of ImmunityBio during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 8.58% of the company's stock.
ImmunityBio Company Profile
(
Get Free Report)
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.
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