ImmunityBio (NASDAQ:IBRX) Shares Gap Down to $5.24

ImmunityBio, Inc. (NASDAQ:IBRX) gapped down prior to trading on Thursday . The stock had previously closed at $5.24, but opened at $5.09. ImmunityBio shares last traded at $5.20, with a volume of 189,164 shares trading hands.

Analysts Set New Price Targets

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

ImmunityBio Price Performance

The stock’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $4.05. The stock has a market capitalization of $3.57 billion, a P/E ratio of -4.54 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. As a group, analysts expect that ImmunityBio, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IBRX. Vanguard Group Inc. boosted its holdings in ImmunityBio by 42.0% in the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after acquiring an additional 4,342,386 shares during the last quarter. Armistice Capital LLC bought a new stake in ImmunityBio in the third quarter valued at approximately $5,874,000. Stratos Wealth Partners LTD. bought a new stake in ImmunityBio in the fourth quarter valued at approximately $171,000. SG Americas Securities LLC boosted its holdings in ImmunityBio by 45.4% in the fourth quarter. SG Americas Securities LLC now owns 49,005 shares of the company’s stock valued at $246,000 after acquiring an additional 15,308 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in ImmunityBio by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 58,136 shares of the company’s stock valued at $98,000 after acquiring an additional 10,596 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

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.