ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.94

ImmunityBio, Inc. (NASDAQ:IBRX) gapped up prior to trading on Tuesday . The stock had previously closed at $4.94, but opened at $6.15. ImmunityBio shares last traded at $5.05, with a volume of 15,358,833 shares changing hands.

Analysts Set New Price Targets

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

ImmunityBio Stock Up 9.9 %

The business’s fifty day simple moving average is $5.17 and its two-hundred day simple moving average is $4.11. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -4.59 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Tuesday, March 19th. The company reported ($0.19) 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. Sell-side analysts predict that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently modified their holdings of IBRX. Tower Research Capital LLC TRC grew its stake in ImmunityBio by 43.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after purchasing an additional 2,844 shares in the last quarter. Amalgamated Bank lifted its stake in ImmunityBio by 21.9% during the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after purchasing an additional 3,186 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in ImmunityBio by 25.8% in the fourth quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock worth $89,000 after purchasing an additional 3,613 shares during the period. Courier Capital LLC increased its stake in ImmunityBio by 33.3% during the first quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Wealth Effects LLC lifted its position in shares of ImmunityBio by 11.2% in the 4th quarter. Wealth Effects LLC now owns 59,500 shares of the company’s stock worth $299,000 after buying an additional 6,000 shares during the last quarter. 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.