ImmunityBio (NASDAQ:IBRX) Trading 7.8% Higher

Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $4.32 and last traded at $4.28. 2,392,013 shares traded hands during trading, a decline of 52% from the average session volume of 4,947,606 shares. The stock had previously closed at $3.97.

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Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on ImmunityBio from $6.00 to $4.75 and set a "neutral" rating on the stock in a report on Monday.

Read Our Latest Stock Analysis on ImmunityBio

ImmunityBio Stock Up 10.8 %

The firm has a market cap of $3.04 billion, a P/E ratio of -4.04 and a beta of 1.07. The firm's 50-day simple moving average is $5.61 and its 200 day simple moving average is $5.78.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently modified their holdings of IBRX. Meridian Management Co. bought a new stake in ImmunityBio in the 4th quarter valued at about $46,000. Tower Research Capital LLC TRC lifted its stake in shares of ImmunityBio by 43.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company's stock valued at $47,000 after buying an additional 2,844 shares in the last quarter. Private Advisor Group LLC purchased a new position in ImmunityBio in the 4th quarter valued at approximately $53,000. Simplicity Wealth LLC purchased a new stake in shares of ImmunityBio during the first quarter worth $58,000. Finally, Bleakley Financial Group LLC bought a new position in shares of ImmunityBio in the first quarter worth $58,000. Institutional investors own 8.58% of the company's stock.

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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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