ImmunityBio (NASDAQ:IBRX) Trading Up 4.6%

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price was up 4.6% during trading on Thursday . The company traded as high as $5.11 and last traded at $5.04. Approximately 5,701,086 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 4,442,845 shares. The stock had previously closed at $4.82.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their target price on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, March 25th.

ImmunityBio Stock Up 43.8 %

The business’s fifty day moving average price is $5.25 and its 200 day moving average price is $4.19. The firm has a market capitalization of $4.98 billion, a PE ratio of -6.34 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in ImmunityBio by 43.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after buying an additional 2,844 shares during the period. Amalgamated Bank grew its position in ImmunityBio by 21.9% during the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after buying an additional 3,186 shares during the period. Victory Capital Management Inc. grew its position in ImmunityBio by 25.8% during the fourth quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock worth $89,000 after buying an additional 3,613 shares during the period. Courier Capital LLC grew its position in ImmunityBio by 33.3% during the first quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock worth $107,000 after buying an additional 5,000 shares during the period. Finally, Wealth Effects LLC grew its position in ImmunityBio by 11.2% during the fourth quarter. Wealth Effects LLC now owns 59,500 shares of the company’s stock worth $299,000 after buying an additional 6,000 shares during the period. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.