ImmunityBio (NASDAQ:IBRX) Sees Strong Trading Volume

ImmunityBio, Inc. (NASDAQ:IBRX) shares saw strong trading volume on Friday . 11,462,745 shares were traded during mid-day trading, an increase of 153% from the previous session’s volume of 4,531,350 shares.The stock last traded at $6.33 and had previously closed at $5.11.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised 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 43.8 %

The stock has a 50-day moving average of $5.25 and a 200 day moving average of $4.19. The stock has a market cap of $4.98 billion, a PE ratio of -6.34 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. Research analysts forecast that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC acquired a new position in ImmunityBio in the first quarter valued at approximately $58,000. Wealth Effects LLC raised its position in ImmunityBio by 10.1% in the first quarter. Wealth Effects LLC now owns 65,500 shares of the company’s stock valued at $352,000 after purchasing an additional 6,000 shares during the period. Courier Capital LLC lifted its stake in shares of ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares during the last quarter. Brookstone Capital Management purchased a new position in shares of ImmunityBio during the 1st quarter worth $100,000. Finally, Virtu Financial LLC purchased a new stake in ImmunityBio in the 4th quarter valued at about $304,000. Hedge funds and other institutional investors 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.