Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) shot up 7.8% during mid-day trading on Monday . The company traded as high as $2.92 and last traded at $2.84. 1,766,412 shares were traded during trading, a decline of 69% from the average session volume of 5,725,808 shares. The stock had previously closed at $2.63.
Analyst Upgrades and Downgrades
Several brokerages have commented on IBRX. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday. D. Boral Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of ImmunityBio in a research report on Tuesday. Finally, BTIG Research started coverage on ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 price objective on the stock. One research 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, the company presently has an average rating of "Buy" and a consensus price target of $12.19.
Read Our Latest Stock Analysis on IBRX
ImmunityBio Stock Down 0.4 %
The firm has a market capitalization of $2.11 billion, a PE ratio of -2.68 and a beta of 0.51. The company's 50-day simple moving average is $2.95 and its 200 day simple moving average is $3.50.
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, beating the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. On average, sell-side analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ImmunityBio
Institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR purchased a new stake in ImmunityBio during the 4th quarter worth approximately $26,000. Thrive Wealth Management LLC purchased a new position in ImmunityBio in the 1st quarter worth $30,000. Cibc World Markets Corp purchased a new stake in ImmunityBio during the 4th quarter valued at about $35,000. Maia Wealth LLC purchased a new stake in shares of ImmunityBio in the 4th quarter valued at $37,000. Finally, GF Fund Management CO. LTD. acquired a new position in ImmunityBio during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 8.58% of the company's stock.
About ImmunityBio
(
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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