ImmunityBio (NASDAQ:IBRX) Stock Price Up 10.6% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were up 10.6% on Thursday . The company traded as high as $3.09 and last traded at $3.08. Approximately 1,766,620 shares were traded during trading, a decline of 68% from the average daily volume of 5,473,316 shares. The stock had previously closed at $2.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IBRX shares. D. Boral Capital reiterated a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. Finally, BTIG Research initiated coverage on shares of ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Trading Up 13.5 %

The stock has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $3.61. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -3.35 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $8.74 million. Research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Several institutional investors have recently bought and sold shares of IBRX. Intech Investment Management LLC acquired a new stake in ImmunityBio in the 3rd quarter valued at approximately $253,000. Charles Schwab Investment Management Inc. increased 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 period. Advantage Alpha Capital Partners LP acquired a new stake in shares of ImmunityBio during the third quarter worth about $257,000. Quantbot Technologies LP purchased a new position in shares of ImmunityBio in the third quarter valued at approximately $143,000. Finally, Captrust Financial Advisors acquired a new position in shares of ImmunityBio in the third quarter valued at approximately $41,000. 8.58% of the stock is currently 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.