ImmunityBio (NASDAQ:IBRX) Trading Down 3.2%

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) fell 3.2% during trading on Tuesday . The company traded as low as $3.36 and last traded at $3.38. 604,309 shares changed hands during trading, a decline of 87% from the average session volume of 4,696,208 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

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

ImmunityBio Trading Up 3.0 %

The firm’s fifty day moving average price is $4.59 and its 200-day moving average price is $5.69. The company has a market cap of $2.37 billion, a P/E ratio of -3.14 and a beta of 1.02.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $2.53 million. As a group, research analysts forecast that ImmunityBio, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IBRX. Victory Capital Management Inc. increased its holdings in ImmunityBio by 16.0% in the 2nd quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock valued at $126,000 after buying an additional 2,746 shares during the period. Amalgamated Bank raised its position in ImmunityBio by 21.9% in the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock worth $89,000 after purchasing an additional 3,186 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ImmunityBio by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company’s stock worth $667,000 after purchasing an additional 4,533 shares during the period. Simplicity Wealth LLC boosted its holdings in ImmunityBio by 46.0% during the second quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock valued at $100,000 after purchasing an additional 4,983 shares in the last quarter. Finally, Courier Capital LLC grew its stake in shares of ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares during the period. 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.