Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Rises By 17.4%

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 26,720,000 shares, a growth of 17.4% from the August 15th total of 22,760,000 shares. Approximately 23.5% of the shares of the company are short sold. Based on an average trading volume of 2,500,000 shares, the days-to-cover ratio is presently 10.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in ImmunityBio by 36.4% during the 2nd quarter. BlackRock Inc. now owns 9,498,666 shares of the company’s stock worth $26,406,000 after purchasing an additional 2,533,147 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ImmunityBio by 7.4% during the third quarter. Vanguard Group Inc. now owns 8,079,541 shares of the company’s stock valued at $40,155,000 after purchasing an additional 557,164 shares during the period. State Street Corp grew its holdings in ImmunityBio by 8.8% during the first quarter. State Street Corp now owns 6,760,306 shares of the company’s stock worth $37,925,000 after acquiring an additional 544,929 shares during the period. Armistice Capital LLC purchased a new position in ImmunityBio in the 1st quarter worth about $10,549,000. Finally, Callan Capital LLC purchased a new position in ImmunityBio in the 4th quarter worth about $15,109,000. 8.60% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Stock Performance

IBRX stock opened at $1.67 on Tuesday. ImmunityBio has a one year low of $1.21 and a one year high of $7.10. The firm’s fifty day moving average is $2.00 and its 200 day moving average is $2.34.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly 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 analyst estimates of $0.03 million. As a group, research analysts expect that ImmunityBio will post -1.04 earnings per share for the current fiscal year.

ImmunityBio Company Profile

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.