ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s share price shot up 6.3% during mid-day trading on Wednesday . The company traded as high as $2.92 and last traded at $2.88. 5,897,841 shares were traded during mid-day trading, an increase of 4% from the average session volume of 5,682,494 shares. The stock had previously closed at $2.71.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. D. Boral Capital reissued a "buy" rating and set a $30.00 price target on shares of ImmunityBio in a research report on Tuesday. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a report on Wednesday. Finally, Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $12.25.
Check Out Our Latest Stock Analysis on IBRX
ImmunityBio Price Performance
The firm has a market capitalization of $2.78 billion, a PE ratio of -3.42 and a beta of 0.14. The business's 50-day moving average price is $2.59 and its 200-day moving average price is $3.03.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). The business had revenue of $16.52 million during the quarter, compared to the consensus estimate of $17.50 million. Equities analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.
Institutional Investors Weigh In On ImmunityBio
Institutional investors and hedge funds have recently made changes to their positions in the company. Stephens Inc. AR bought a new position in shares of ImmunityBio in the fourth quarter worth $26,000. Thrive Wealth Management LLC acquired a new stake in ImmunityBio in the 1st quarter valued at approximately $30,000. Slow Capital Inc. acquired a new stake in shares of ImmunityBio during the 1st quarter worth approximately $30,000. Compound Planning Inc. bought a new stake in ImmunityBio in the first quarter valued at $30,000. Finally, Xponance Inc. bought a new position in ImmunityBio in the 1st quarter valued at $33,000. 8.58% of the stock is owned by institutional investors and hedge funds.
ImmunityBio Company Profile
(
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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