ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $7.81

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $7.81, but opened at $8.42. ImmunityBio shares last traded at $8.41, with a volume of 2,034,420 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price target on ImmunityBio from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Monday, April 29th.

ImmunityBio Trading Up 5.8 %

The stock has a market cap of $5.59 billion, a PE ratio of -7.33 and a beta of 1.16. The company's 50 day moving average is $5.74 and its 200-day moving average is $4.53.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.01). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. As a group, analysts forecast that ImmunityBio, Inc. will post -0.76 EPS for the current year.

Institutional Trading of ImmunityBio

Several institutional investors have recently added to or reduced their stakes in IBRX. Vanguard Group Inc. increased its position in shares of ImmunityBio by 42.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company's stock worth $24,802,000 after purchasing an additional 4,342,386 shares during the last quarter. Armistice Capital LLC acquired a new stake in ImmunityBio during the third quarter valued at approximately $5,874,000. Stratos Wealth Partners LTD. bought a new position in ImmunityBio during the 4th quarter worth approximately $171,000. SG Americas Securities LLC boosted its holdings in ImmunityBio by 45.4% in the fourth quarter. SG Americas Securities LLC now owns 49,005 shares of the company's stock worth $246,000 after purchasing an additional 15,308 shares during the period. Finally, Blair William & Co. IL grew its position in shares of ImmunityBio by 200.7% during the 3rd quarter. Blair William & Co. IL now owns 162,462 shares of the company's stock valued at $275,000 after buying an additional 108,431 shares during the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.