ImmunityBio (NASDAQ:IBRX) Trading Up 4.6%

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price rose 4.6% on Thursday . The stock traded as high as $5.11 and last traded at $5.04. Approximately 5,701,086 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 4,442,845 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

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 research report on Monday, March 25th.

ImmunityBio Trading Up 43.8 %

The company has a market capitalization of $4.98 billion, a P/E ratio of -6.34 and a beta of 1.23. The business’s 50-day simple moving average is $5.25 and its 200 day simple moving average is $4.19.

ImmunityBio (NASDAQ:IBRX) last released its quarterly 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 business had revenue of $0.14 million for the quarter, compared to the consensus estimate 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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in shares of ImmunityBio by 43.4% in the 4th 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 raised its holdings in shares of ImmunityBio by 21.9% in the 4th quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after purchasing an additional 3,186 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of ImmunityBio by 25.8% in the 4th 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 in the last quarter. Courier Capital LLC raised its holdings in shares of ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock worth $107,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Wealth Effects LLC raised its holdings 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 purchasing an additional 6,000 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors.

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.