ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.92

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.92, but opened at $5.09. ImmunityBio shares last traded at $4.98, with a volume of 315,007 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Monday, March 25th.

ImmunityBio Trading Up 1.4 %

The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -4.24 and a beta of 1.23. The stock has a 50-day moving average of $5.11 and a two-hundred day moving average of $4.01.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.03 million. Sell-side analysts expect that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd boosted its position in ImmunityBio by 2,136.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 6,149 shares of the company’s stock worth $34,000 after acquiring an additional 5,874 shares during the period. Tower Research Capital LLC TRC boosted its position in ImmunityBio by 43.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after acquiring an additional 2,844 shares during the period. Meridian Management Co. acquired a new stake in ImmunityBio during the 4th quarter worth about $46,000. Private Advisor Group LLC acquired a new stake in ImmunityBio during the 4th quarter worth about $53,000. Finally, Gotham Asset Management LLC acquired a new stake in ImmunityBio during the 4th quarter worth about $54,000. 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 discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.