ImmunityBio (NASDAQ:IBRX) Trading Down 8.1% – Time to Sell?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) fell 8.1% on Thursday . The company traded as low as $3.55 and last traded at $3.59. 5,056,670 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 6,274,826 shares. The stock had previously closed at $3.90.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IBRX shares. BTIG Research assumed coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, D. Boral Capital reiterated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Friday, February 14th.

ImmunityBio Stock Down 6.7 %

The firm has a market capitalization of $2.54 billion, a P/E ratio of -3.96 and a beta of 0.94. The stock has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $3.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Stephens Inc. AR purchased a new stake in shares of ImmunityBio during the 4th quarter worth approximately $26,000. Cibc World Markets Corp bought a new stake in shares of ImmunityBio in the 4th quarter worth about $35,000. Maia Wealth LLC purchased a new stake in shares of ImmunityBio during the 4th quarter valued at about $37,000. GF Fund Management CO. LTD. purchased a new position in ImmunityBio in the fourth quarter worth about $37,000. Finally, Schechter Investment Advisors LLC purchased a new position in ImmunityBio in the fourth quarter worth about $38,000. Hedge funds and other institutional investors 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.