ImmunityBio (NASDAQ:IBRX) Shares Gap Down - Should You Sell?

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $2.54, but opened at $2.27. ImmunityBio shares last traded at $2.22, with a volume of 4,838,389 shares traded.

Wall Street Analyst Weigh In

IBRX has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating on shares of ImmunityBio in a research note on Monday. BTIG Research assumed coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a "buy" rating and a $6.00 price objective for the company. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $12.19.

ImmunityBio Stock Down 1.0 %

The business's 50 day simple moving average is $2.68 and its 200 day simple moving average is $3.38. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -2.25 and a beta of 0.33.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. Equities research analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of ImmunityBio

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in ImmunityBio by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,302,083 shares of the company's stock worth $3,919,000 after acquiring an additional 25,410 shares during the period. Vanguard Group Inc. lifted its stake in shares of ImmunityBio by 17.4% in the 1st quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company's stock valued at $61,237,000 after acquiring an additional 3,016,325 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of ImmunityBio by 5.4% during the 1st quarter. XTX Topco Ltd now owns 111,647 shares of the company's stock valued at $336,000 after acquiring an additional 5,764 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in ImmunityBio during the 1st quarter worth $48,000. Finally, Dauntless Investment Group LLC acquired a new position in ImmunityBio in the 1st quarter worth about $283,000. 8.58% of the stock is owned by institutional investors and hedge funds.

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.