ImmunityBio (NASDAQ:IBRX) Trading 7% Higher – Time to Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were up 7% on Friday . The company traded as high as $2.77 and last traded at $2.75. Approximately 1,460,317 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 2,534,059 shares. The stock had previously closed at $2.57.

Analyst Ratings Changes

A number of research firms have commented on IBRX. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research note on Friday, December 20th.

ImmunityBio Trading Up 9.3 %

The company has a market cap of $1.96 billion, a price-to-earnings ratio of -3.05 and a beta of 0.86. The business has a fifty day moving average price of $4.26 and a two-hundred day moving average price of $4.50.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds have recently modified their holdings of IBRX. Captrust Financial Advisors purchased a new position in ImmunityBio in the third quarter valued at about $41,000. Algert Global LLC bought a new stake in shares of ImmunityBio in the 2nd quarter valued at approximately $86,000. Virtu Financial LLC bought a new stake in shares of ImmunityBio in the 3rd quarter valued at approximately $51,000. Dimensional Fund Advisors LP acquired a new position in ImmunityBio in the second quarter worth approximately $105,000. Finally, CIBC Asset Management Inc acquired a new stake in ImmunityBio in the second quarter valued at approximately $118,000. 8.58% of the stock is owned by institutional investors and hedge funds.

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.