ImmunityBio, Inc. (NASDAQ:IBRX) Short Interest Update

ImmunityBio, Inc. (NASDAQ:IBRX) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 50,010,000 shares, a growth of 12.6% from the December 15th total of 44,410,000 shares. Based on an average trading volume of 6,580,000 shares, the days-to-cover ratio is currently 7.6 days.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in IBRX. Mutual Advisors LLC purchased a new stake in ImmunityBio during the fourth quarter worth approximately $41,000. Virtu Financial LLC purchased a new stake in ImmunityBio during the 3rd quarter worth $51,000. Barclays PLC increased its holdings in ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after purchasing an additional 202,248 shares in the last quarter. XTX Topco Ltd increased its holdings in ImmunityBio by 309.4% in the 3rd quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock valued at $346,000 after purchasing an additional 70,215 shares in the last quarter. Finally, State Street Corp raised its position in ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Thursday. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research initiated coverage on ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 target price on the stock.

ImmunityBio Stock Down 3.3 %

Shares of IBRX stock traded down $0.10 during mid-day trading on Friday, hitting $2.94. 11,795,251 shares of the company’s stock were exchanged, compared to its average volume of 5,029,692. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -3.20 and a beta of 0.86. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53. The stock has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.23.

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.