ImmunityBio (NASDAQ:IBRX) Stock Price Down 3.9% – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRXGet Free Report)’s stock price traded down 3.9% during trading on Wednesday . The stock traded as low as $5.13 and last traded at $5.14. 529,559 shares were traded during trading, a decline of 89% from the average session volume of 4,960,315 shares. The stock had previously closed at $5.35.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBRX. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. Piper Sandler lowered their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Monday, August 19th.

Get Our Latest Research Report on ImmunityBio

ImmunityBio Price Performance

The firm has a market capitalization of $3.55 billion, a PE ratio of -5.54 and a beta of 0.99. The firm’s fifty day moving average is $4.24 and its two-hundred day moving average is $5.21.

Institutional Trading of ImmunityBio

A number of hedge funds have recently bought and sold shares of IBRX. Captrust Financial Advisors purchased a new stake in shares of ImmunityBio during the 3rd quarter valued at $41,000. Virtu Financial LLC purchased a new position in ImmunityBio in the third quarter valued at about $51,000. Lazard Asset Management LLC grew its position in shares of ImmunityBio by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock valued at $68,000 after acquiring an additional 6,593 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of ImmunityBio in the 1st quarter worth approximately $85,000. Finally, Algert Global LLC purchased a new position in ImmunityBio in the second quarter valued at approximately $86,000. 8.58% of the stock is currently owned by institutional investors.

About ImmunityBio

(Get Free Report)

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.

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