Piper Sandler Lowers ImmunityBio (NASDAQ:IBRX) Price Target to $4.75

ImmunityBio (NASDAQ:IBRX) had its price objective decreased by Piper Sandler from $6.00 to $4.75 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

ImmunityBio Stock Up 10.8 %

Shares of ImmunityBio stock opened at $4.40 on Monday. The firm has a market capitalization of $3.04 billion, a P/E ratio of -4.04 and a beta of 1.07. ImmunityBio has a 52 week low of $1.25 and a 52 week high of $10.53. The company has a 50 day moving average price of $5.61 and a 200 day moving average price of $5.78.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently made changes to their positions in IBRX. Sheets Smith Wealth Management raised its stake in ImmunityBio by 380.8% in the 1st quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock worth $5,079,000 after acquiring an additional 749,041 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of ImmunityBio during the fourth quarter worth about $3,714,000. Vanguard Group Inc. boosted its position in ImmunityBio by 1.6% in the first quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock valued at $72,708,000 after buying an additional 211,065 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in ImmunityBio by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after buying an additional 170,742 shares during the period. Finally, Blair William & Co. IL raised its position in ImmunityBio by 106.3% during the 1st quarter. Blair William & Co. IL now owns 313,542 shares of the company’s stock worth $1,684,000 after buying an additional 161,530 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

About ImmunityBio

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.