ImmunityBio (NASDAQ:IBRX) Shares Down 5.2% - Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $2.32 and last traded at $2.35. 909,176 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,314,528 shares. The stock had previously closed at $2.48.

Analyst Upgrades and Downgrades

IBRX has been the subject of several recent research reports. D. Boral Capital reaffirmed a "buy" rating and issued a $30.00 price target on shares of ImmunityBio in a report on Monday, January 6th. BTIG Research started coverage on ImmunityBio in a research report on Friday. They issued a "buy" rating and a $6.00 target price for the company. Finally, EF Hutton Acquisition Co. I raised shares of ImmunityBio to a "strong-buy" rating in a report on Wednesday, October 23rd.

ImmunityBio Trading Down 6.5 %

The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.52 and a beta of 0.86. The stock has a fifty day moving average price of $3.84 and a 200-day moving average price of $4.27.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company's stock valued at $32,195,000 after buying an additional 790,408 shares in the last quarter. Barclays PLC grew its position in ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company's stock worth $1,344,000 after acquiring an additional 202,248 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in ImmunityBio during the 2nd quarter valued at $515,000. GSA Capital Partners LLP raised its position in ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company's stock valued at $402,000 after purchasing an additional 80,318 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in ImmunityBio by 727.7% in the second quarter. Private Advisor Group LLC now owns 86,907 shares of the company's stock worth $549,000 after purchasing an additional 76,407 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors and hedge funds.

About ImmunityBio

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.