ImmunityBio (NASDAQ:IBRX) Sees Strong Trading Volume - What's Next?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) saw strong trading volume on Friday . 6,811,982 shares changed hands during trading, an increase of 52% from the previous session's volume of 4,470,012 shares.The stock last traded at $5.68 and had previously closed at $4.21.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IBRX shares. EF Hutton Acquisition Co. I raised ImmunityBio to a "strong-buy" rating in a report on Wednesday. Piper Sandler cut their price target on ImmunityBio from $6.00 to $4.75 and set a "neutral" rating on the stock in a report on Monday, August 19th.

ImmunityBio Trading Up 26.4 %

The company has a market cap of $3.71 billion, a price-to-earnings ratio of -5.42 and a beta of 1.02. The business has a 50-day moving average price of $3.69 and a 200 day moving average price of $5.35.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $2.53 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in IBRX. Victory Capital Management Inc. raised its position in shares of ImmunityBio by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 19,953 shares of the company's stock valued at $126,000 after buying an additional 2,746 shares in the last quarter. Wealth Effects LLC lifted its position in ImmunityBio by 3.4% during the 3rd quarter. Wealth Effects LLC now owns 90,500 shares of the company's stock valued at $337,000 after acquiring an additional 3,000 shares during the period. Exchange Traded Concepts LLC lifted its position in ImmunityBio by 8.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,984 shares of the company's stock valued at $178,000 after acquiring an additional 3,722 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of ImmunityBio by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company's stock worth $667,000 after acquiring an additional 4,533 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in ImmunityBio by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company's stock valued at $99,000 after buying an additional 4,545 shares during the period. 8.58% of the stock is 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.