ImmunityBio (NASDAQ:IBRX) Shares Up 4.4% – Should You Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) shot up 4.4% during trading on Thursday . The stock traded as high as $2.97 and last traded at $3.00. 809,025 shares were traded during trading, a decline of 87% from the average session volume of 6,097,896 shares. The stock had previously closed at $2.87.

Analyst Ratings Changes

Several research firms have recently commented on IBRX. BTIG Research initiated coverage on ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock. D. Boral Capital reissued a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Stock Performance

The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -3.12 and a beta of 0.82. The firm has a 50-day simple moving average of $3.08 and a two-hundred day simple moving average of $3.66.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. As a group, equities analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its stake in ImmunityBio by 290.3% during the third quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after purchasing an additional 80,318 shares during the last quarter. Intech Investment Management LLC purchased a new stake in ImmunityBio during the third quarter worth approximately $253,000. Charles Schwab Investment Management Inc. lifted 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 last quarter. Advantage Alpha Capital Partners LP purchased a new stake in ImmunityBio during the third quarter worth approximately $257,000. Finally, Quantbot Technologies LP purchased a new stake in ImmunityBio during the third quarter worth approximately $143,000. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

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.