ImmunityBio (NASDAQ:IBRX) Trading Down 4%

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price fell 4% during mid-day trading on Monday . The company traded as low as $4.93 and last traded at $5.06. 2,654,094 shares were traded during mid-day trading, a decline of 34% from the average session volume of 4,007,505 shares. The stock had previously closed at $5.27.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, March 25th.

ImmunityBio Price Performance

The stock’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $4.14. The company has a market capitalization of $3.72 billion, a P/E ratio of -4.73 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last released its quarterly 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. On average, research analysts predict that ImmunityBio, Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of ImmunityBio by 42.0% during the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after buying an additional 4,342,386 shares during the last quarter. Armistice Capital LLC acquired a new position in ImmunityBio in the third quarter worth about $5,874,000. Stratos Wealth Partners LTD. acquired a new position in ImmunityBio in the fourth quarter worth about $171,000. SG Americas Securities LLC raised its position in ImmunityBio by 45.4% in the fourth quarter. SG Americas Securities LLC now owns 49,005 shares of the company’s stock worth $246,000 after purchasing an additional 15,308 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in ImmunityBio by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 58,136 shares of the company’s stock worth $98,000 after purchasing an additional 10,596 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.