ImmunityBio (NASDAQ:IBRX) Stock Price Up 4.4% - Should You Buy?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) traded up 4.4% during trading on Thursday . The stock traded as high as $2.97 and last traded at $3.00. 809,025 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,097,896 shares. The stock had previously closed at $2.87.

Analyst Ratings Changes

Several research analysts have issued reports on the company. D. Boral Capital reiterated a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a research note on Thursday. HC Wainwright initiated coverage on ImmunityBio in a report on Thursday, March 6th. They set a "buy" rating and a $8.00 price objective for the company. Finally, BTIG Research began coverage on ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $12.19.

ImmunityBio Trading Up 0.2 %

The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -3.15 and a beta of 0.82. The firm's 50-day moving average is $3.07 and its 200-day moving average is $3.68.

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

Hedge Funds Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in ImmunityBio in the fourth quarter worth about $37,000. Waverly Advisors LLC purchased a new position in shares of ImmunityBio during the 4th quarter worth about $38,000. Woodline Partners LP boosted its stake in shares of ImmunityBio by 682.7% during the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company's stock valued at $8,813,000 after purchasing an additional 3,002,622 shares during the period. Wexford Capital LP purchased a new position in shares of ImmunityBio during the fourth quarter worth approximately $85,000. Finally, Two Sigma Investments LP bought a new position in shares of ImmunityBio during the 4th quarter worth $72,000. 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.

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