ImmunityBio (NASDAQ:IBRX) Shares Gap Up – Should You Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shares gapped up before the market opened on Friday . The stock had previously closed at $2.86, but opened at $3.12. ImmunityBio shares last traded at $3.31, with a volume of 2,906,520 shares traded.

Analyst Upgrades and Downgrades

IBRX has been the topic of several recent research reports. D. Boral Capital restated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Friday. BTIG Research assumed coverage on ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company.

ImmunityBio Stock Performance

The business has a 50-day moving average of $3.01 and a 200-day moving average of $3.75. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -3.58 and a beta of 0.94.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ImmunityBio by 22.0% during the 3rd 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 period. China Universal Asset Management Co. Ltd. boosted its position in shares of ImmunityBio by 64.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 133,966 shares of the company’s stock worth $498,000 after buying an additional 52,716 shares during the period. GSA Capital Partners LLP boosted its holdings in ImmunityBio by 290.3% during the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock valued at $402,000 after acquiring an additional 80,318 shares during the period. Intech Investment Management LLC acquired a new position in ImmunityBio in the 3rd quarter valued at about $253,000. Finally, Charles Schwab Investment Management Inc. increased its stake in ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock worth $4,709,000 after purchasing an additional 29,665 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.