ImmunityBio (NASDAQ:IBRX) Trading Up 12.6% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded up 12.6% on Friday . The stock traded as high as $3.70 and last traded at $3.74. 2,034,143 shares were traded during trading, a decline of 64% from the average session volume of 5,656,088 shares. The stock had previously closed at $3.32.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBRX. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital reiterated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Friday. Finally, BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company.

ImmunityBio Trading Up 11.0 %

The company has a market cap of $2.57 billion, a PE ratio of -4.04 and a beta of 0.94. The firm’s fifty day moving average is $3.03 and its 200 day moving average is $3.84.

Institutional Investors Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new stake in ImmunityBio in the 4th quarter worth $64,000. Hsbc Holdings PLC purchased a new stake in shares of ImmunityBio during the fourth quarter worth $44,000. Tower Research Capital LLC TRC grew its holdings in shares of ImmunityBio by 1,010.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 50,799 shares of the company’s stock worth $130,000 after buying an additional 46,223 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of ImmunityBio by 43.3% during the fourth quarter. MetLife Investment Management LLC now owns 89,393 shares of the company’s stock worth $229,000 after buying an additional 27,028 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ImmunityBio by 154.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 27,966 shares of the company’s stock worth $72,000 after buying an additional 16,954 shares in 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 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.