ImmunityBio (NASDAQ:IBRX) Shares Gap Down to $5.24

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $5.24, but opened at $5.09. ImmunityBio shares last traded at $5.20, with a volume of 189,164 shares.

Wall Street Analyst Weigh In

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

ImmunityBio Trading Down 2.7 %

The firm has a market capitalization of $3.45 billion, a PE ratio of -4.52 and a beta of 1.23. The firm has a 50-day moving average of $5.14 and a two-hundred day moving average of $4.01.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results 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 company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.03 million. Equities research analysts expect that ImmunityBio, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of ImmunityBio

Several large investors have recently modified their holdings of the business. Armistice Capital LLC bought a new stake in ImmunityBio in the first quarter valued at about $10,549,000. State Street Corp grew its stake in shares of ImmunityBio by 255.9% during the third quarter. State Street Corp now owns 6,649,331 shares of the company’s stock valued at $33,047,000 after purchasing an additional 4,780,807 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 during the last quarter. BlackRock Inc. boosted its stake 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in ImmunityBio by 40.3% in the second quarter. Geode Capital Management LLC now owns 2,730,452 shares of the company’s stock worth $7,591,000 after purchasing an additional 784,588 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.