Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Declines By 5.5%

ImmunityBio, Inc. (NASDAQ:IBRXGet Rating) was the target of a significant decline in short interest in December. As of December 30th, there was short interest totalling 22,430,000 shares, a decline of 5.5% from the December 15th total of 23,730,000 shares. Approximately 30.1% of the company’s stock are short sold. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 14.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY lifted its stake in shares of ImmunityBio by 168.6% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,953 shares of the company’s stock worth $25,000 after buying an additional 3,109 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in ImmunityBio during the third quarter valued at approximately $27,000. Point72 Hong Kong Ltd lifted its position in ImmunityBio by 2,136.0% during the first quarter. Point72 Hong Kong Ltd now owns 6,149 shares of the company’s stock valued at $34,000 after purchasing an additional 5,874 shares during the period. Amalgamated Bank bought a new position in ImmunityBio during the first quarter valued at approximately $48,000. Finally, Fishman Jay A Ltd. MI bought a new position in ImmunityBio during the third quarter valued at approximately $50,000. Institutional investors own 9.86% of the company’s stock.

ImmunityBio Price Performance

NASDAQ:IBRX opened at $4.61 on Monday. The company’s 50-day simple moving average is $5.38 and its 200 day simple moving average is $4.99. ImmunityBio has a one year low of $2.60 and a one year high of $7.85.

ImmunityBio (NASDAQ:IBRXGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.05). The firm had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, equities research analysts anticipate that ImmunityBio will post -0.94 EPS for the current year.

About ImmunityBio

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ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive (T cell) immune systems.

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