ImmunityBio (NASDAQ:IBRX) Stock Price Up 7.8% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares shot up 7.8% during mid-day trading on Monday . The stock traded as high as $4.84 and last traded at $4.84. Approximately 2,600,847 shares changed hands during trading, a decline of 48% from the average daily volume of 4,974,280 shares. The stock had previously closed at $4.49.

Analyst Ratings Changes

IBRX has been the subject of a number of research analyst reports. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. Piper Sandler cut their target price on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th.

ImmunityBio Trading Up 11.6 %

The stock has a market cap of $3.49 billion, a PE ratio of -5.42 and a beta of 0.99. The business has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $5.26.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after buying an additional 202,248 shares in the last quarter. XTX Topco Ltd boosted its stake in ImmunityBio by 309.4% during the third quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock worth $346,000 after acquiring an additional 70,215 shares in the last quarter. State Street Corp grew its holdings in ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after purchasing an additional 790,408 shares during the period. HighTower Advisors LLC purchased a new stake in ImmunityBio in the third quarter worth about $136,000. Finally, Verition Fund Management LLC lifted its holdings in shares of ImmunityBio by 131.8% during the third quarter. Verition Fund Management LLC now owns 94,270 shares of the company’s stock valued at $351,000 after purchasing an additional 53,607 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

About ImmunityBio

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.