ImmunityBio (NASDAQ:IBRX) Trading Down 5.4% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were down 5.4% during trading on Tuesday . The stock traded as low as $2.17 and last traded at $2.1750. Approximately 2,432,404 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 8,432,342 shares. The stock had previously closed at $2.30.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a research note on Wednesday, September 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, November 24th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $24.00 price target on shares of ImmunityBio in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, ImmunityBio currently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

ImmunityBio Stock Down 9.0%

The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -5.09 and a beta of 0.29. The business has a 50 day moving average of $2.34 and a 200 day moving average of $2.55.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $31.88 million. Research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Enhancement Group LLC acquired a new position in ImmunityBio in the 2nd quarter valued at $28,000. Slow Capital Inc. purchased a new stake in shares of ImmunityBio in the third quarter valued at $25,000. Compound Planning Inc. acquired a new position in ImmunityBio in the first quarter valued at $30,000. Envision Financial Planning LLC purchased a new position in ImmunityBio during the second quarter worth about $28,000. Finally, Summit X LLC acquired a new stake in ImmunityBio in the 2nd quarter worth about $28,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

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.