ImmunityBio (NASDAQ:IBRX) Stock Price Down 8.1% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price dropped 8.1% during trading on Thursday . The stock traded as low as $3.55 and last traded at $3.59. Approximately 5,056,670 shares traded hands during trading, a decline of 19% from the average daily volume of 6,274,826 shares. The stock had previously closed at $3.90.

Wall Street Analyst Weigh In

IBRX has been the topic of several research analyst reports. D. Boral Capital restated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Friday, February 14th. BTIG Research assumed coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 target price on the stock.

ImmunityBio Price Performance

The firm has a fifty day simple moving average of $2.99 and a 200-day simple moving average of $3.79. The firm has a market cap of $2.38 billion, a P/E ratio of -3.72 and a beta of 0.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new position in ImmunityBio in the fourth quarter worth approximately $26,000. Captrust Financial Advisors bought a new position in shares of ImmunityBio in the third quarter valued at approximately $41,000. Cibc World Markets Corp bought a new position in shares of ImmunityBio in the fourth quarter valued at approximately $35,000. Virtu Financial LLC bought a new position in shares of ImmunityBio in the third quarter valued at approximately $51,000. Finally, Maia Wealth LLC bought a new position in shares of ImmunityBio in the fourth quarter valued at approximately $37,000. 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.