ImmunityBio (NASDAQ:IBRX) Trading 3.7% Higher

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded up 3.7% during trading on Friday . The company traded as high as $4.02 and last traded at $3.94. 901,709 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,824,901 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research report on Monday, August 19th.

ImmunityBio Stock Up 3.9 %

The stock’s 50-day simple moving average is $5.30 and its 200 day simple moving average is $5.77. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -3.62 and a beta of 1.07.

Hedge Funds Weigh In On ImmunityBio

A number of large investors have recently modified their holdings of IBRX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ImmunityBio by 46.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,105 shares of the company’s stock worth $141,000 after buying an additional 8,932 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of ImmunityBio by 408.3% during the fourth quarter. Russell Investments Group Ltd. now owns 14,766 shares of the company’s stock worth $74,000 after buying an additional 11,861 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of ImmunityBio by 25.8% during the fourth quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock worth $89,000 after buying an additional 3,613 shares during the last quarter. Amalgamated Bank raised its stake in shares of ImmunityBio by 21.9% during the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after buying an additional 3,186 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of ImmunityBio during the fourth quarter worth approximately $53,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.