ImmunityBio (NASDAQ:IBRX) Shares Gap Up – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) gapped up before the market opened on Friday . The stock had previously closed at $3.04, but opened at $3.20. ImmunityBio shares last traded at $3.20, with a volume of 3,485,915 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBRX. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Thursday. BTIG Research began coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. Finally, EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Stock Performance

The stock has a 50 day moving average of $3.74 and a two-hundred day moving average of $4.25. The firm has a market capitalization of $2.11 billion, a P/E ratio of -3.30 and a beta of 0.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new position in shares of ImmunityBio in the 3rd quarter valued at approximately $41,000. Virtu Financial LLC acquired a new stake in ImmunityBio in the 3rd quarter valued at approximately $51,000. Algert Global LLC acquired a new stake in ImmunityBio in the 2nd quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in ImmunityBio by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after buying an additional 4,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in ImmunityBio in the 2nd quarter valued at approximately $105,000. 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.