ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.92

ImmunityBio, Inc. (NASDAQ:IBRX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.92, but opened at $5.09. ImmunityBio shares last traded at $4.98, with a volume of 315,007 shares.

Wall Street Analysts Forecast Growth

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

ImmunityBio Price Performance

The company’s 50-day simple moving average is $5.11 and its 200-day simple moving average is $4.01. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -4.24 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 (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 the consensus estimate of $0.03 million. Equities analysts predict that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in ImmunityBio by 42.0% in the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after acquiring an additional 4,342,386 shares in the last quarter. BlackRock Inc. grew its position in ImmunityBio by 36.4% in the second quarter. BlackRock Inc. now owns 9,498,666 shares of the company’s stock valued at $26,406,000 after acquiring an additional 2,533,147 shares in the last quarter. State Street Corp boosted its stake in shares of ImmunityBio by 8.8% during the 1st quarter. State Street Corp now owns 6,760,306 shares of the company’s stock valued at $37,925,000 after buying an additional 544,929 shares during the last quarter. Armistice Capital LLC purchased a new position in shares of ImmunityBio during the 1st quarter valued at approximately $10,549,000. Finally, Geode Capital Management LLC boosted its stake in shares of ImmunityBio by 40.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,730,452 shares of the company’s stock valued at $7,591,000 after buying an additional 784,588 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

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.