ImmunityBio (NASDAQ:IBRX) Sets New 1-Year Low – Should You Sell?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) hit a new 52-week low on Thursday . The stock traded as low as $2.61 and last traded at $2.65, with a volume of 5557991 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

IBRX has been the subject of a number of recent research reports. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital reiterated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Friday.

ImmunityBio Stock Down 1.9 %

The company’s 50-day simple moving average is $4.49 and its 200 day simple moving average is $4.74. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -2.85 and a beta of 0.86.

Institutional Trading of ImmunityBio

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in ImmunityBio by 10.1% in the 3rd 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 last quarter. 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 worth $1,344,000 after buying an additional 202,248 shares during the period. Bank of New York Mellon Corp grew its stake in ImmunityBio by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after buying an additional 170,742 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in ImmunityBio in the 2nd quarter worth $515,000. Finally, GSA Capital Partners LLP raised its holdings in ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after acquiring an additional 80,318 shares during the period. 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.