ImmunityBio (NASDAQ:IBRX) Trading 4.6% Higher

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) traded up 4.6% during mid-day trading on Thursday . The company traded as high as $5.11 and last traded at $5.04. 5,701,086 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 4,442,845 shares. The stock had previously closed at $4.82.

Wall Street Analyst Weigh In

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

ImmunityBio Stock Up 6.0 %

The company’s fifty day moving average is $5.20 and its 200-day moving average is $4.15. The company has a market cap of $3.46 billion, a PE ratio of -4.41 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 for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.03 million. Equities research analysts expect that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IBRX. Vanguard Group Inc. lifted its stake in ImmunityBio by 42.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock worth $24,802,000 after purchasing an additional 4,342,386 shares in the last quarter. Armistice Capital LLC purchased a new stake in ImmunityBio in the 3rd quarter worth $5,874,000. Charles Schwab Investment Management Inc. lifted its stake in ImmunityBio by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,142,925 shares of the company’s stock worth $5,737,000 after purchasing an additional 92,991 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in ImmunityBio in the 4th quarter worth $3,714,000. Finally, Clearwater Capital Advisors LLC lifted its stake in ImmunityBio by 12.3% in the 4th quarter. Clearwater Capital Advisors LLC now owns 443,299 shares of the company’s stock worth $2,225,000 after purchasing an additional 48,700 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

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.