ImmunityBio (NASDAQ:IBRX) Trading Down 4.2% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price dropped 4.2% during mid-day trading on Thursday . The stock traded as low as $3.07 and last traded at $3.09. Approximately 2,130,970 shares traded hands during trading, a decline of 67% from the average daily volume of 6,507,664 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BTIG Research initiated coverage on shares of ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target on the stock. D. Boral Capital reissued a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Thursday, January 16th. Finally, EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Trading Down 3.1 %

The company has a market cap of $2.17 billion, a P/E ratio of -3.39 and a beta of 0.86. The company’s fifty day moving average is $3.57 and its 200 day moving average is $4.15.

Institutional Trading of ImmunityBio

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares during the last quarter. Barclays PLC raised its stake in shares of ImmunityBio by 127.4% during the third quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after acquiring an additional 202,248 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of ImmunityBio during the third quarter worth about $136,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ImmunityBio by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after purchasing an additional 4,545 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in ImmunityBio during the 3rd quarter valued at about $143,000. 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 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.