ImmunityBio (NASDAQ:IBRX) Trading 2.6% Higher – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were up 2.6% on Friday . The stock traded as high as $2.78 and last traded at $2.76. Approximately 329,049 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 5,027,464 shares. The stock had previously closed at $2.69.

Analyst Ratings Changes

IBRX has been the subject of several research analyst reports. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Friday, December 20th. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Price Performance

The stock’s 50-day moving average price is $4.41 and its 200-day moving average price is $4.64. The company has a market cap of $1.92 billion, a P/E ratio of -3.00 and a beta of 0.86.

Institutional Trading of ImmunityBio

A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new stake in shares of ImmunityBio in the third quarter valued at approximately $41,000. Algert Global LLC bought a new position in ImmunityBio during the 2nd quarter worth $86,000. Virtu Financial LLC acquired a new position in ImmunityBio in the 3rd quarter valued at $51,000. Dimensional Fund Advisors LP bought a new stake in shares of ImmunityBio during the 2nd quarter valued at $105,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of ImmunityBio during the 2nd quarter worth $118,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.