ImmunityBio (NASDAQ:IBRX) Trading Down 5.8%

ImmunityBio, Inc. (NASDAQ:IBRX) shares dropped 5.8% during mid-day trading on Monday . The stock traded as low as $1.68 and last traded at $1.70. Approximately 1,719,315 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 3,755,635 shares. The stock had previously closed at $1.80.

ImmunityBio Price Performance

The firm has a 50 day moving average of $2.02 and a two-hundred day moving average of $2.34.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.03 million. Equities analysts predict that ImmunityBio, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its position in shares of ImmunityBio by 9.2% during the first quarter. Swiss National Bank now owns 188,000 shares of the company’s stock worth $1,055,000 after buying an additional 15,900 shares during the period. MetLife Investment Management LLC raised its stake in shares of ImmunityBio by 28.5% in the first quarter. MetLife Investment Management LLC now owns 33,258 shares of the company’s stock worth $187,000 after purchasing an additional 7,377 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ImmunityBio by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 493,059 shares of the company’s stock valued at $2,767,000 after buying an additional 16,672 shares during the last quarter. Vident Investment Advisory LLC raised its position in ImmunityBio by 19.7% in the 1st quarter. Vident Investment Advisory LLC now owns 201,588 shares of the company’s stock valued at $1,131,000 after buying an additional 33,112 shares during the last quarter. Finally, State Street Corp lifted its stake in ImmunityBio by 8.8% during the 1st quarter. State Street Corp now owns 6,760,306 shares of the company’s stock valued at $37,925,000 after acquiring an additional 544,929 shares in the last quarter. 8.60% of the stock is currently owned by institutional investors.

About ImmunityBio

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 in the United States and Europe. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine technologies, toll-Like receptor activating adjuvants, natural killer cells, and damage-associated molecular patterns inducers.