Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) were down 5.6% during trading on Tuesday . The company traded as low as $2.88 and last traded at $2.89. Approximately 1,492,134 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 5,018,983 shares. The stock had previously closed at $3.06.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on IBRX shares. Piper Sandler lowered their price objective on ImmunityBio from $6.00 to $4.75 and set a "neutral" rating for the company in a research note on Monday, August 19th. D. Boral Capital restated a "buy" rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Thursday, November 21st. Finally, EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a "strong-buy" rating in a research note on Wednesday, October 23rd.
Get Our Latest Report on ImmunityBio
ImmunityBio Trading Down 7.5 %
The firm's 50-day simple moving average is $4.54 and its 200 day simple moving average is $4.80. The stock has a market cap of $1.97 billion, a P/E ratio of -3.08 and a beta of 0.86.
Hedge Funds Weigh In On ImmunityBio
Several hedge funds have recently made changes to their positions in IBRX. Captrust Financial Advisors purchased a new stake in shares of ImmunityBio in the third quarter valued at $41,000. Virtu Financial LLC purchased a new stake in ImmunityBio in the 3rd quarter worth about $51,000. Algert Global LLC acquired a new stake in ImmunityBio during the 2nd quarter worth about $86,000. Mirae Asset Global Investments Co. Ltd. grew its stake in ImmunityBio by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company's stock valued at $99,000 after acquiring an additional 4,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of ImmunityBio in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 8.58% of the company's stock.
About ImmunityBio
(
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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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