ImmunityBio (NASDAQ:IBRX) Trading Up 2.6% – Here’s Why

ImmunityBio, Inc. (NASDAQ:IBRX) shares rose 2.6% during mid-day trading on Friday . The stock traded as high as $2.78 and last traded at $2.76. Approximately 329,049 shares were traded during trading, a decline of 93% from the average daily volume of 5,027,464 shares. The stock had previously closed at $2.69.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several recent research reports. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Friday, December 20th. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Trading Up 3.3 %

The business has a fifty day moving average of $4.40 and a 200-day moving average of $4.61. The company has a market cap of $1.94 billion, a PE ratio of -3.02 and a beta of 0.86.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IBRX. State Street Corp boosted its stake in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ImmunityBio by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock valued at $4,709,000 after acquiring an additional 29,665 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ImmunityBio by 37.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after acquiring an additional 170,742 shares during the period. Clearwater Capital Advisors LLC raised its position in shares of ImmunityBio by 8.9% in the 2nd quarter. Clearwater Capital Advisors LLC now owns 482,549 shares of the company’s stock worth $3,050,000 after acquiring an additional 39,250 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of ImmunityBio by 127.4% in 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 during the period. 8.58% of the stock is owned by hedge funds and other 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.