ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s stock price was up 6.3% during mid-day trading on Wednesday . The stock traded as high as $2.92 and last traded at $2.88. Approximately 5,897,841 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 5,682,494 shares. The stock had previously closed at $2.71.
Analysts Set New Price Targets
Several analysts have issued reports on IBRX shares. D. Boral Capital restated a "buy" rating and issued a $30.00 target price on shares of ImmunityBio in a 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 upgraded ImmunityBio from a "neutral" rating to an "overweight" rating and upped their target price for the company from $4.25 to $5.00 in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ImmunityBio presently has an average rating of "Buy" and a consensus target price of $12.25.
Check Out Our Latest Analysis on IBRX
ImmunityBio Stock Performance
The company has a 50 day moving average price of $2.58 and a 200 day moving average price of $3.06. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -3.15 and a beta of 0.14.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $16.52 million during the quarter, compared to analyst estimates of $17.50 million. On average, research analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.
Hedge Funds Weigh In On ImmunityBio
Several large investors have recently modified their holdings of IBRX. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at $26,000. New York State Common Retirement Fund lifted its stake in shares of ImmunityBio by 62.8% in the 4th quarter. New York State Common Retirement Fund now owns 32,418 shares of the company's stock valued at $83,000 after purchasing an additional 12,500 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of ImmunityBio by 71.2% in the 4th quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock valued at $236,000 after purchasing an additional 38,400 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of ImmunityBio in the 4th quarter valued at $41,000. Finally, Maia Wealth LLC acquired a new position in ImmunityBio during the 4th quarter worth about $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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