ImmunityBio (NASDAQ:IBRX) Shares Down 6.3%

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) was down 6.3% on Tuesday . The company traded as low as $8.23 and last traded at $8.42. Approximately 9,835,359 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 5,716,324 shares. The stock had previously closed at $8.99.

Wall Street Analyst Weigh In

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

ImmunityBio Stock Performance

The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -6.89 and a beta of 1.23. The business's 50 day moving average is $5.34 and its 200-day moving average is $4.28.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.03 million. Sell-side analysts anticipate that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of ImmunityBio by 43.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company's stock valued at $47,000 after acquiring an additional 2,844 shares during the last quarter. Amalgamated Bank raised its stake in ImmunityBio by 21.9% in the 4th quarter. Amalgamated Bank now owns 17,752 shares of the company's stock valued at $89,000 after purchasing an additional 3,186 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in ImmunityBio by 25.8% in the 4th quarter. Victory Capital Management Inc. now owns 17,642 shares of the company's stock valued at $89,000 after purchasing an additional 3,613 shares in the last quarter. Courier Capital LLC boosted its stake in ImmunityBio by 33.3% during the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company's stock worth $107,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Wealth Effects LLC grew its holdings in shares of ImmunityBio by 11.2% during the fourth quarter. Wealth Effects LLC now owns 59,500 shares of the company's stock worth $299,000 after buying an additional 6,000 shares in the last quarter. 8.58% of the stock is currently 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.