ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.94

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.94, but opened at $6.15. ImmunityBio shares last traded at $5.05, with a volume of 15,358,833 shares traded.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Monday, March 25th.

ImmunityBio Stock Up 9.9 %

The company has a fifty day simple moving average of $5.17 and a 200-day simple moving average of $4.11. The firm has a market cap of $3.68 billion, a P/E ratio of -4.59 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts forecast that ImmunityBio, Inc. will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IBRX. Vanguard Group Inc. grew its stake in ImmunityBio by 42.0% during the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after acquiring an additional 4,342,386 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of ImmunityBio in the third quarter worth about $5,874,000. Charles Schwab Investment Management Inc. boosted its stake in ImmunityBio by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,142,925 shares of the company’s stock valued at $5,737,000 after buying an additional 92,991 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in ImmunityBio in the 4th quarter worth approximately $3,714,000. Finally, Clearwater Capital Advisors LLC raised its holdings in shares of ImmunityBio by 12.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 443,299 shares of the company’s stock worth $2,225,000 after acquiring an additional 48,700 shares in the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

About ImmunityBio

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.