ImmunityBio (NASDAQ:IBRX) Stock Price Up 8.9% – Should You Buy?

by · The Markets Daily

ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report)’s stock price traded up 8.9% during mid-day trading on Monday . The company traded as high as $2.29 and last traded at $2.2650. 10,520,824 shares were traded during trading, an increase of 19% from the average session volume of 8,863,009 shares. The stock had previously closed at $2.08.

Wall Street Analyst Weigh In

IBRX has been the subject of a number of research reports. D. Boral Capital restated a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a report on Thursday, December 11th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 15th. Finally, Jefferies Financial Group upped their price objective on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Read Our Latest Analysis on ImmunityBio

ImmunityBio Stock Performance

The firm has a fifty day moving average of $2.25 and a 200-day moving average of $2.50. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -5.54 and a beta of 0.10.

ImmunityBio (NASDAQ:IBRX – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The company had revenue of $32.06 million for the quarter, compared to analyst estimates of $31.88 million. On average, analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Plancorp LLC purchased a new stake in shares of ImmunityBio during the second quarter valued at $717,000. Swiss National Bank grew its stake in shares of ImmunityBio by 49.8% in the 1st quarter. Swiss National Bank now owns 410,400 shares of the company’s stock valued at $1,235,000 after buying an additional 136,400 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of ImmunityBio in the second quarter worth about $20,497,000. Nuveen LLC bought a new stake in shares of ImmunityBio during the 1st quarter worth $1,083,000. Finally, AlphaCore Capital LLC acquired a new stake in shares of ImmunityBio in the second quarter valued at about $7,854,000. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

(Get Free Report)

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.

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