ImmunityBio (NASDAQ:IBRX) Shares Up 7% – Still a Buy?

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

Analyst Upgrades and Downgrades

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

ImmunityBio Stock Performance

The business’s 50 day moving average price is $4.26 and its two-hundred day moving average price is $4.50. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -3.05 and a beta of 0.86.

Hedge Funds Weigh In On ImmunityBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares in the last quarter. Barclays PLC lifted its stake in ImmunityBio by 127.4% during the third 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 last quarter. HighTower Advisors LLC bought a new stake in ImmunityBio during the third quarter worth approximately $136,000. Bank of New York Mellon Corp grew its position in ImmunityBio by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after buying an additional 170,742 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ImmunityBio by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after acquiring an additional 4,545 shares during the last quarter. 8.58% of the stock is owned by institutional investors.

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.