ImmunityBio (NASDAQ:IBRX) Stock Price Up 4.5%

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) rose 4.5% during mid-day trading on Friday . The stock traded as high as $5.13 and last traded at $5.13. Approximately 339,504 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,969,610 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

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 Stock Performance

The stock has a market capitalization of $3.47 billion, a P/E ratio of -4.23 and a beta of 1.23. The company’s 50-day moving average price is $5.15 and its 200 day moving average price is $4.02.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.03 million. Analysts predict that ImmunityBio, Inc. will post -0.68 earnings per share for the current year.

Institutional Trading of ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Courier Capital LLC increased its holdings in ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after acquiring an additional 5,000 shares during the last quarter. Brookstone Capital Management bought a new stake in ImmunityBio in the 1st quarter valued at $100,000. American International Group Inc. increased its holdings in ImmunityBio by 15.9% in the 4th quarter. American International Group Inc. now owns 65,902 shares of the company’s stock valued at $331,000 after acquiring an additional 9,043 shares during the last quarter. Virtu Financial LLC bought a new stake in ImmunityBio in the 4th quarter valued at $304,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of ImmunityBio by 8.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 119,346 shares of the company’s stock worth $601,000 after buying an additional 8,834 shares during the last quarter. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

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.