Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Grows By 12.6%

ImmunityBio, Inc. (NASDAQ:IBRX) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 50,010,000 shares, a growth of 12.6% from the December 15th total of 44,410,000 shares. Based on an average daily volume of 6,580,000 shares, the short-interest ratio is currently 7.6 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its position in ImmunityBio by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 211,677 shares of the company’s stock valued at $1,338,000 after purchasing an additional 24,802 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of ImmunityBio by 16.0% during the second quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock valued at $126,000 after acquiring an additional 2,746 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of ImmunityBio during the second quarter valued at $105,000. Mercer Global Advisors Inc. ADV bought a new position in shares of ImmunityBio during the second quarter worth about $126,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of ImmunityBio in the 2nd quarter worth about $385,000. 8.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBRX. BTIG Research started coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Thursday.

ImmunityBio Price Performance

Shares of NASDAQ:IBRX traded down $0.10 during midday trading on Friday, reaching $2.94. The company had a trading volume of 11,795,251 shares, compared to its average volume of 5,029,692. The stock has a market capitalization of $2.05 billion, a P/E ratio of -3.20 and a beta of 0.86. The stock’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.23. ImmunityBio has a one year low of $2.28 and a one year high of $10.53.

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.