ImmunityBio (NASDAQ:IBRX) Trading 4.6% Higher

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price rose 4.6% on Thursday . The stock traded as high as $5.11 and last traded at $5.04. Approximately 5,701,086 shares were traded during trading, an increase of 28% from the average daily volume of 4,442,845 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

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

ImmunityBio Stock Performance

The firm’s 50-day moving average is $5.20 and its 200 day moving average is $4.15. The stock has a market cap of $3.46 billion, a PE ratio of -4.41 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) 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 the consensus estimate of $0.03 million. On average, sell-side analysts predict that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently made changes to their positions in IBRX. SG Americas Securities LLC acquired a new position in shares of ImmunityBio during the 3rd quarter worth $57,000. Exchange Traded Concepts LLC grew its stake in shares of ImmunityBio by 22.3% during the 3rd 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 during the period. Aire Advisors LLC acquired a new stake in ImmunityBio in the 3rd quarter valued at about $25,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in ImmunityBio in the 3rd quarter valued at about $144,000. Finally, Merit Financial Group LLC grew its stake in ImmunityBio by 84.0% in the 3rd quarter. Merit Financial Group LLC now owns 43,800 shares of the company’s stock valued at $74,000 after acquiring an additional 20,000 shares during the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

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.