ImmunityBio (NASDAQ:IBRX) Stock Price Down 8.1% – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares dropped 8.1% during mid-day trading on Thursday . The company traded as low as $3.55 and last traded at $3.59. Approximately 5,056,670 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 6,274,826 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

IBRX has been the subject of a number of recent research reports. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a report on Friday, February 14th. BTIG Research initiated coverage on ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company.

ImmunityBio Stock Down 6.0 %

The company has a market cap of $2.38 billion, a price-to-earnings ratio of -3.72 and a beta of 0.94. The firm has a 50 day moving average price of $2.99 and a two-hundred day moving average price of $3.79.

Institutional Investors Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently made changes to their positions in IBRX. Stephens Inc. AR acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $26,000. Cibc World Markets Corp acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $35,000. Maia Wealth LLC bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $37,000. GF Fund Management CO. LTD. bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $37,000. Finally, Schechter Investment Advisors LLC bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 8.58% of the company’s 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.