ImmunityBio (NASDAQ:IBRX) Trading Down 4.2% – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $3.07 and last traded at $3.09. 2,130,970 shares were traded during mid-day trading, a decline of 67% from the average session volume of 6,507,664 shares. The stock had previously closed at $3.22.

Wall Street Analyst Weigh In

IBRX has been the topic of a number of research analyst reports. D. Boral Capital restated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research report on Thursday, January 16th. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price on the stock. Finally, EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Stock Up 1.6 %

The company has a market cap of $2.21 billion, a P/E ratio of -3.45 and a beta of 0.86. The firm’s 50 day moving average is $3.51 and its two-hundred day moving average is $4.12.

Institutional Trading of ImmunityBio

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors bought a new stake in shares of ImmunityBio in the third quarter worth $41,000. Algert Global LLC bought a new stake in shares of ImmunityBio in the second quarter worth $86,000. Virtu Financial LLC bought a new stake in shares of ImmunityBio in the third quarter worth $51,000. Mutual Advisors LLC bought a new stake in shares of ImmunityBio in the fourth quarter worth $41,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of ImmunityBio in the second quarter worth $105,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.