ImmunityBio (NASDAQ:IBRX) Sees Strong Trading Volume

ImmunityBio, Inc. (NASDAQ:IBRX) saw unusually-high trading volume on Friday . Approximately 11,462,745 shares were traded during mid-day trading, an increase of 153% from the previous session’s volume of 4,531,350 shares.The stock last traded at $6.33 and had previously closed at $5.11.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on ImmunityBio from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th.

ImmunityBio Stock Performance

The business’s fifty day moving average price is $5.25 and its two-hundred day moving average price is $4.19. The stock has a market capitalization of $4.98 billion, a P/E ratio of -6.34 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, analysts forecast that ImmunityBio, Inc. will post -0.68 earnings per share for the current year.

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently bought and sold shares of IBRX. Aire Advisors LLC bought a new position in ImmunityBio during the third quarter valued at $25,000. WINTON GROUP Ltd bought a new position in ImmunityBio during the 3rd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in ImmunityBio in the 3rd quarter worth about $37,000. Meridian Management Co. bought a new stake in ImmunityBio in the fourth quarter worth about $46,000. Finally, Tower Research Capital LLC TRC lifted its stake in ImmunityBio by 43.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after purchasing an additional 2,844 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.