ImmunityBio (NASDAQ:IBRX) Trading Down 2.9% – Should You Sell?

ImmunityBio, Inc. (NASDAQ:IBRX) traded down 2.9% during trading on Friday . The stock traded as low as $2.81 and last traded at $2.82. 1,759,528 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 6,080,779 shares. The stock had previously closed at $2.90.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. D. Boral Capital reiterated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of ImmunityBio in a report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ImmunityBio currently has a consensus rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Stock Down 1.0 %

The company has a market cap of $2.45 billion, a PE ratio of -3.12 and a beta of 0.82. The firm’s 50-day moving average is $3.08 and its 200-day moving average is $3.66.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $8.74 million. As a group, equities research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in shares of ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after acquiring an additional 80,318 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of ImmunityBio during the third quarter valued at approximately $253,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock valued at $4,709,000 after purchasing an additional 29,665 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new stake in shares of ImmunityBio in the 3rd quarter worth approximately $257,000. Finally, Quantbot Technologies LP purchased a new stake in shares of ImmunityBio in the 3rd quarter worth approximately $143,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

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.