ImmunityBio (NASDAQ:IBRX) Stock Price Up 4.5%

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) rose 4.5% on Friday . The company traded as high as $5.13 and last traded at $5.13. Approximately 339,504 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,969,610 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price objective on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, March 25th.

ImmunityBio Price Performance

The business’s 50 day moving average is $5.15 and its 200-day moving average is $4.02. The company has a market cap of $3.47 billion, a PE ratio of -4.23 and a beta of 1.23.

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

Institutional Trading of ImmunityBio

Several institutional investors have recently modified their holdings of IBRX. Vanguard Group Inc. raised its position in ImmunityBio by 42.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after purchasing an additional 4,342,386 shares during the last quarter. BlackRock Inc. raised its position in ImmunityBio by 36.4% in the 2nd quarter. BlackRock Inc. now owns 9,498,666 shares of the company’s stock valued at $26,406,000 after purchasing an additional 2,533,147 shares during the last quarter. State Street Corp raised its position in ImmunityBio by 8.8% in the 1st quarter. State Street Corp now owns 6,760,306 shares of the company’s stock valued at $37,925,000 after purchasing an additional 544,929 shares during the last quarter. Armistice Capital LLC purchased a new stake in ImmunityBio in the 1st quarter valued at $10,549,000. Finally, Geode Capital Management LLC raised its position in ImmunityBio by 40.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,730,452 shares of the company’s stock valued at $7,591,000 after purchasing an additional 784,588 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

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.