ImmunityBio (NASDAQ:IBRX) Reaches New 12-Month Low - What's Next?

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.00 and last traded at $2.10, with a volume of 31011481 shares traded. The stock had previously closed at $2.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of ImmunityBio in a research report on Monday, April 28th. BTIG Research began coverage on ImmunityBio in a research report on Friday, January 10th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of ImmunityBio in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $12.19.

ImmunityBio Price Performance

The stock's fifty day simple moving average is $2.76 and its 200-day simple moving average is $3.42. The firm has a market cap of $1.85 billion, a PE ratio of -2.28 and a beta of 0.33.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million during the quarter, compared to analysts' expectations of $8.74 million. Analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently bought and sold shares of IBRX. Stephens Inc. AR purchased a new stake in shares of ImmunityBio in the 4th quarter valued at $26,000. Thrive Wealth Management LLC purchased a new stake in ImmunityBio in the first quarter valued at $30,000. Slow Capital Inc. acquired a new stake in ImmunityBio during the 1st quarter worth about $30,000. Xponance Inc. purchased a new position in shares of ImmunityBio during the 1st quarter valued at about $33,000. Finally, Cibc World Markets Corp acquired a new position in shares of ImmunityBio in the 4th quarter valued at about $35,000. Hedge funds and other 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.

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