ImmunityBio (NASDAQ:IBRX) Stock Price Up 6.8%

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) were up 6.8% during trading on Monday . The stock traded as high as $3.61 and last traded at $3.61. Approximately 179,405 shares changed hands during trading, a decline of 96% from the average daily volume of 4,767,206 shares. The stock had previously closed at $3.38.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a report on Monday, August 19th.

ImmunityBio Stock Up 2.0 %

The stock’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.73. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -3.32 and a beta of 1.02.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $2.53 million. On average, equities research analysts anticipate that ImmunityBio, Inc. will post -0.86 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in ImmunityBio by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock worth $126,000 after purchasing an additional 2,746 shares during the last quarter. Amalgamated Bank lifted its holdings in ImmunityBio by 21.9% in the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock valued at $89,000 after buying an additional 3,186 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in ImmunityBio by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company’s stock valued at $667,000 after buying an additional 4,533 shares during the period. Simplicity Wealth LLC boosted its stake in ImmunityBio by 46.0% in the second quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock valued at $100,000 after acquiring an additional 4,983 shares during the last quarter. Finally, Courier Capital LLC grew its holdings in ImmunityBio by 33.3% during the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock worth $107,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds 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.