ImmunityBio (NASDAQ:IBRX) Stock Price Down 12.6%

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price dropped 12.6% during trading on Monday . The stock traded as low as $7.95 and last traded at $8.00. Approximately 6,182,110 shares changed hands during trading, an increase of 3% from the average daily volume of 6,010,714 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on ImmunityBio from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th.

ImmunityBio Trading Down 14.6 %

The firm has a market capitalization of $5.29 billion, a PE ratio of -6.75 and a beta of 1.16. The stock has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $4.49.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share 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 analyst estimates of $0.03 million. As a group, equities analysts anticipate that ImmunityBio, Inc. will post -0.76 earnings per share for the current year.

Institutional Trading of ImmunityBio

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of ImmunityBio in the 3rd quarter valued at approximately $57,000. Aire Advisors LLC bought a new stake in shares of ImmunityBio during the 3rd quarter valued at $25,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in ImmunityBio during the third quarter worth about $144,000. Merit Financial Group LLC lifted its holdings in shares of ImmunityBio by 84.0% during the third quarter. Merit Financial Group LLC now owns 43,800 shares of the company’s stock valued at $74,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of ImmunityBio in the 3rd quarter worth approximately $37,000. 8.58% of the stock is owned by 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.