ImmunityBio (NASDAQ:IBRX) Shares Up 4.4% – Should You Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) traded up 4.4% on Thursday . The company traded as high as $2.97 and last traded at $3.00. 809,025 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 6,097,896 shares. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a research note on Thursday. BTIG Research began coverage on ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, D. Boral Capital restated a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Stock Down 1.0 %

The company has a fifty day moving average of $3.08 and a two-hundred day moving average of $3.66. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -3.12 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. Equities analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after acquiring an additional 425,713 shares during the period. State Street Corp lifted its holdings in ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after acquiring an additional 790,408 shares during the period. Woodline Partners LP lifted its holdings in ImmunityBio by 682.7% in the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares during the period. Tang Capital Management LLC acquired a new stake in ImmunityBio in the fourth quarter valued at $7,204,000. Finally, Northern Trust Corp lifted its holdings in ImmunityBio by 7.9% in the fourth quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after acquiring an additional 97,348 shares during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.