ImmunityBio (NASDAQ:IBRX) Trading 12.6% Higher – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX) rose 12.6% during trading on Friday . The company traded as high as $3.70 and last traded at $3.74. Approximately 2,034,143 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 5,656,088 shares. The stock had previously closed at $3.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IBRX shares. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Friday. Finally, BTIG Research began coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price objective for the company.

ImmunityBio Price Performance

The company has a market cap of $2.52 billion, a P/E ratio of -3.93 and a beta of 0.94. The firm’s 50-day moving average is $3.00 and its two-hundred day moving average is $3.82.

Institutional Trading of ImmunityBio

A number of large investors have recently made changes to their positions in IBRX. Altium Capital Management LLC bought a new position in shares of ImmunityBio in the 4th quarter valued at about $2,714,000. State Street Corp lifted its stake in shares of ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of ImmunityBio in the 4th quarter worth approximately $1,280,000. Vanguard Group Inc. raised its holdings in ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after buying an additional 425,713 shares during the period. Finally, Clearwater Capital Advisors LLC lifted its position in ImmunityBio by 75.4% in the fourth quarter. Clearwater Capital Advisors LLC now owns 846,419 shares of the company’s stock worth $2,167,000 after buying an additional 363,870 shares during the last quarter. 8.58% of the stock is currently 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.