Short Interest in ImmunityBio, Inc. (NASDAQ:IBRX) Increases By 12.6%

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

ImmunityBio Stock Performance

Shares of IBRX stock traded down $0.25 during mid-day trading on Monday, hitting $3.20. 4,468,574 shares of the stock were exchanged, compared to its average volume of 6,688,516. ImmunityBio has a 12-month low of $2.28 and a 12-month high of $10.53. The stock’s fifty day simple moving average is $3.29 and its two-hundred day simple moving average is $3.95. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.94.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently made changes to their positions in IBRX. State Street Corp lifted its position in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after acquiring an additional 790,408 shares during the period. Barclays PLC grew its position in shares of ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after buying an additional 202,248 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of ImmunityBio during the 3rd quarter valued at about $136,000. Mirae Asset Global Investments Co. Ltd. grew its position in ImmunityBio by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after purchasing an additional 4,545 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in ImmunityBio during the third quarter valued at approximately $143,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research note on Monday, January 27th. Finally, BTIG Research started coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock.

About ImmunityBio

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.