ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s stock price dropped 6.3% during mid-day trading on Wednesday . The company traded as low as $2.61 and last traded at $2.61. Approximately 1,235,181 shares changed hands during trading, a decline of 81% from the average daily volume of 6,446,545 shares. The stock had previously closed at $2.78.
Wall Street Analysts Forecast Growth
IBRX has been the topic of a number of recent research reports. D. Boral Capital reaffirmed a "buy" rating and issued a $30.00 target price on shares of ImmunityBio in a report on Tuesday, April 15th. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a research note on Wednesday, April 16th. Finally, BTIG Research started coverage on shares of ImmunityBio in a research report on Friday, January 10th. They issued a "buy" rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $12.19.
Read Our Latest Stock Report on IBRX
ImmunityBio Price Performance
The stock has a 50 day moving average of $2.95 and a two-hundred day moving average of $3.50. The stock has a market capitalization of $2.14 billion, a PE ratio of -2.73 and a beta of 0.51.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. As a group, research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ImmunityBio
Institutional investors and hedge funds have recently modified their holdings of the company. Thrive Wealth Management LLC purchased a new stake in ImmunityBio during the first quarter worth $30,000. Stephens Inc. AR purchased a new position in ImmunityBio during the 4th quarter valued at about $26,000. Cibc World Markets Corp purchased a new stake in shares of ImmunityBio in the fourth quarter valued at about $35,000. Virtu Financial LLC acquired a new stake in shares of ImmunityBio in the third quarter valued at approximately $51,000. Finally, Maia Wealth LLC purchased a new position in shares of ImmunityBio during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 8.58% of the company's stock.
About ImmunityBio
(
Get Free Report)
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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