ImmunityBio (NASDAQ:IBRX) Shares Gap Down – Should You Sell?

ImmunityBio, Inc. (NASDAQ:IBRX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.64, but opened at $3.28. ImmunityBio shares last traded at $3.40, with a volume of 6,424,461 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Thursday, November 21st. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler dropped their price objective on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research note on Monday, August 19th.

ImmunityBio Trading Down 32.5 %

The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -3.70 and a beta of 0.86. The stock has a fifty day moving average price of $4.59 and a 200-day moving average price of $4.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares in the last quarter. Barclays PLC increased its holdings in ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after purchasing an additional 202,248 shares in the last quarter. Bank of New York Mellon Corp raised its position in ImmunityBio by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after purchasing an additional 170,742 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in ImmunityBio in the second quarter worth $515,000. Finally, GSA Capital Partners LLP grew its holdings in shares of ImmunityBio by 290.3% during the third quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after purchasing an additional 80,318 shares during the last quarter. 8.58% of the stock is owned by institutional investors.

About ImmunityBio

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.