ImmunityBio (NASDAQ:IBRX) Trading Down 3.2%

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded down 3.2% during trading on Tuesday . The company traded as low as $3.36 and last traded at $3.38. 604,309 shares were traded during trading, a decline of 87% from the average session volume of 4,696,208 shares. The stock had previously closed at $3.49.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a report on Monday, August 19th.

ImmunityBio Price Performance

The stock’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $5.70. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.01 and a beta of 1.02.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Monday, August 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $1.05 million during the quarter, compared to the consensus estimate of $2.53 million. On average, sell-side analysts predict that ImmunityBio, Inc. will post -0.86 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in ImmunityBio by 408.3% in the 4th quarter. Russell Investments Group Ltd. now owns 14,766 shares of the company’s stock valued at $74,000 after purchasing an additional 11,861 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of 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. Amalgamated Bank grew its holdings in ImmunityBio by 21.9% in the 4th quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after buying an additional 3,186 shares in the last quarter. Private Advisor Group LLC acquired a new stake in ImmunityBio in the 4th quarter valued at approximately $53,000. Finally, Charles Schwab Investment Management Inc. raised its stake in ImmunityBio by 8.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,142,925 shares of the company’s stock valued at $5,737,000 after acquiring an additional 92,991 shares in the last quarter. 8.58% of the stock is currently 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.