ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s share price fell 5.3% during trading on Monday . The stock traded as low as $4.96 and last traded at $5.00. 529,419 shares changed hands during trading, a decline of 89% from the average session volume of 4,923,129 shares. The stock had previously closed at $5.28.
Wall Street Analysts Forecast Growth
Several research firms recently commented on IBRX. Piper Sandler cut their target price on ImmunityBio from $6.00 to $4.75 and set a "neutral" rating for the company in a research report on Monday, August 19th. EF Hutton Acquisition Co. I upgraded ImmunityBio to a "strong-buy" rating in a research report on Wednesday, October 23rd.
Check Out Our Latest Stock Report on ImmunityBio
ImmunityBio Stock Performance
The stock has a market cap of $3.62 billion, a P/E ratio of -5.36 and a beta of 0.98. The company has a 50-day simple moving average of $3.88 and a 200-day simple moving average of $5.35.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its earnings results on Monday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $1.05 million during the quarter, compared to the consensus estimate of $2.53 million. As a group, sell-side analysts expect that ImmunityBio, Inc. will post -0.86 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ImmunityBio
A number of institutional investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC acquired a new position in ImmunityBio in the first quarter valued at about $58,000. Lazard Asset Management LLC grew its stake in ImmunityBio by 102.6% in the first quarter. Lazard Asset Management LLC now owns 13,019 shares of the company's stock valued at $68,000 after acquiring an additional 6,593 shares during the period. Axxcess Wealth Management LLC acquired a new position in ImmunityBio in the first quarter valued at about $85,000. Algert Global LLC acquired a new position in ImmunityBio in the second quarter valued at about $86,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in ImmunityBio by 22.0% in the third 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 during the period. 8.58% of the stock is owned by institutional investors and hedge funds.
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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