Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Expands By 12.6%

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 50,010,000 shares, an increase of 12.6% from the December 31st total of 44,410,000 shares. Based on an average daily volume of 6,580,000 shares, the days-to-cover ratio is presently 7.6 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. BTIG Research began coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, D. Boral Capital reissued a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research report on Monday, January 27th.

ImmunityBio Price Performance

IBRX stock traded down $0.25 during mid-day trading on Monday, hitting $3.20. 4,468,574 shares of the stock were exchanged, compared to its average volume of 6,688,516. The business has a fifty day moving average price of $3.29 and a 200 day moving average price of $3.95. ImmunityBio has a 12 month low of $2.28 and a 12 month high of $10.53. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.94.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds have recently added to or reduced their stakes in IBRX. Dimensional Fund Advisors LP purchased a new position in ImmunityBio during the 2nd quarter valued at about $105,000. Squarepoint Ops LLC bought a new position in ImmunityBio in the 2nd quarter valued at approximately $385,000. AQR Capital Management LLC raised its stake in ImmunityBio by 158.8% during the 2nd quarter. AQR Capital Management LLC now owns 48,452 shares of the company’s stock valued at $306,000 after buying an additional 29,727 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in ImmunityBio by 15.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,367 shares of the company’s stock valued at $596,000 after buying an additional 12,738 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth $147,000. Institutional investors 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.