ImmunityBio (NASDAQ:IBRX) Sees Large Volume Increase – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares saw unusually-high trading volume on Wednesday . Approximately 9,373,812 shares were traded during trading, an increase of 57% from the previous session’s volume of 5,972,432 shares.The stock last traded at $3.90 and had previously closed at $3.35.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of ImmunityBio in a research report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target for the company. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research note on Friday, February 14th.

ImmunityBio Trading Down 6.0 %

The firm has a market cap of $2.38 billion, a P/E ratio of -3.72 and a beta of 0.94. The company’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $3.79.

Institutional Trading of ImmunityBio

Several hedge funds have recently modified their holdings of IBRX. Vanguard Group Inc. boosted its holdings in shares of ImmunityBio by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after acquiring an additional 425,713 shares in the last quarter. State Street Corp raised its position in ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Woodline Partners LP boosted its stake in ImmunityBio by 682.7% in the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after purchasing an additional 3,002,622 shares in the last quarter. Tang Capital Management LLC bought a new stake in shares of ImmunityBio during the fourth quarter worth $7,204,000. Finally, Northern Trust Corp increased its stake in shares of ImmunityBio by 7.9% in the fourth quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after buying an additional 97,348 shares in the last quarter. Institutional investors and hedge funds 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.