ImmunityBio (NASDAQ:IBRX) Trading Up 2.6% – Time to Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shot up 2.6% during mid-day trading on Friday . The company traded as high as $2.78 and last traded at $2.76. 329,049 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 5,027,464 shares. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. D. Boral Capital reissued a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Friday, December 20th.

ImmunityBio Trading Up 2.6 %

The business has a 50 day moving average price of $4.41 and a 200-day moving average price of $4.64. The company has a market cap of $1.92 billion, a P/E ratio of -3.00 and a beta of 0.86.

Institutional Trading of ImmunityBio

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the period. Barclays PLC raised its stake in ImmunityBio by 127.4% in the third quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after buying an additional 202,248 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ImmunityBio by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after buying an additional 170,742 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of ImmunityBio during the 2nd quarter worth approximately $515,000. Finally, GSA Capital Partners LLP increased its holdings in shares of ImmunityBio by 290.3% during the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after acquiring an additional 80,318 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.