ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $7.81

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.81, but opened at $8.42. ImmunityBio shares last traded at $8.41, with a volume of 2,034,420 shares trading hands.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their price objective on shares of ImmunityBio from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, April 29th.

ImmunityBio Trading Up 1.8 %

The business has a fifty day moving average of $5.88 and a 200 day moving average of $4.61. The company has a market capitalization of $5.46 billion, a PE ratio of -6.83 and a beta of 1.16.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.03 million. Equities analysts forecast that ImmunityBio, Inc. will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently made changes to their positions in IBRX. Vanguard Group Inc. lifted its stake in ImmunityBio by 42.0% during the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock worth $24,802,000 after purchasing an additional 4,342,386 shares during the last quarter. Armistice Capital LLC purchased a new position in shares of ImmunityBio in the 3rd quarter valued at $5,874,000. Sheets Smith Wealth Management raised its stake in ImmunityBio by 380.8% during the 1st quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock worth $5,079,000 after acquiring an additional 749,041 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in ImmunityBio in the fourth quarter valued at $3,714,000. Finally, Blair William & Co. IL boosted its stake in ImmunityBio by 106.3% in the first quarter. Blair William & Co. IL now owns 313,542 shares of the company’s stock valued at $1,684,000 after acquiring an additional 161,530 shares in the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

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.