ImmunityBio (NASDAQ:IBRX) Stock Price Down 7.8% - Here's Why

Key Points

• IBRX fell 7.8% intraday to $2.1750 on Monday with 1.92M shares traded, roughly 78% below its average session volume of 8.58M.
• Analyst sentiment is mixed but tilted positive: five Buys and one Sell produce a consensus "Moderate Buy" rating with an average price target of $10.40.
• The company remains unprofitable (PE -5.38) but beat Q3 estimates with EPS of -$0.07 and revenue of $32.06M; analysts forecast a fiscal-year EPS of -$0.92 and the market cap is about $2.17B.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s share price traded down 7.8% during trading on Monday . The company traded as low as $2.22 and last traded at $2.1750. 1,922,171 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,576,193 shares. The stock had previously closed at $2.36.

Wall Street Analysts Forecast Growth

IBRX has been the topic of a number of research analyst reports. D. Boral Capital reaffirmed a "buy" rating and set a $24.00 price target on shares of ImmunityBio in a report on Thursday. Jefferies Financial Group upped their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a report on Wednesday, September 10th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of ImmunityBio in a report on Monday, December 8th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.40.

ImmunityBio Stock Down 6.6%

The firm has a market cap of $2.17 billion, a PE ratio of -5.38 and a beta of 0.10. The firm's fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.52.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $32.06 million for the quarter, compared to the consensus estimate of $31.88 million. As a group, analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Slow Capital Inc. bought a new position in ImmunityBio in the 3rd quarter valued at $25,000. Truist Financial Corp bought a new position in ImmunityBio in the 3rd quarter worth about $27,000. Swiss Life Asset Management Ltd purchased a new position in shares of ImmunityBio during the third quarter worth approximately $27,000. Diversify Advisory Services LLC bought a new stake in shares of ImmunityBio during the second quarter valued at approximately $27,000. Finally, Financial Enhancement Group LLC bought a new stake in shares of ImmunityBio during the second quarter valued at approximately $28,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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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