ImmunityBio (NASDAQ:IBRX) Trading Down 5.6% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) traded down 5.6% during trading on Tuesday . The company traded as low as $2.51 and last traded at $2.53. 3,579,558 shares changed hands during trading, a decline of 29% from the average session volume of 5,063,778 shares. The stock had previously closed at $2.68.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Friday, December 20th. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

ImmunityBio Stock Up 2.3 %

The firm has a market cap of $1.83 billion, a P/E ratio of -2.85 and a beta of 0.86. The business’s 50 day moving average is $4.34 and its 200-day moving average is $4.54.

Institutional Trading of ImmunityBio

Institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of ImmunityBio during the 3rd quarter valued at approximately $41,000. Algert Global LLC bought a new stake in ImmunityBio during the second quarter valued at $86,000. Virtu Financial LLC acquired a new stake in shares of ImmunityBio during the third quarter worth $51,000. Dimensional Fund Advisors LP bought a new position in shares of ImmunityBio in the 2nd quarter worth about $105,000. Finally, CIBC Asset Management Inc acquired a new position in shares of ImmunityBio in the 2nd quarter valued at about $118,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.