ImmunityBio, Inc. (NASDAQ:IBRX) Short Interest Up 5.2% in August

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 49,180,000 shares, a growth of 5.2% from the July 31st total of 46,770,000 shares. Approximately 31.6% of the company’s shares are sold short. Based on an average daily trading volume, of 3,240,000 shares, the short-interest ratio is currently 15.2 days.

ImmunityBio Price Performance

IBRX opened at $3.70 on Thursday. ImmunityBio has a twelve month low of $1.25 and a twelve month high of $10.53. The company has a fifty day moving average of $5.10 and a 200-day moving average of $5.75. The stock has a market cap of $2.56 billion, a PE ratio of -3.39 and a beta of 1.07.

Institutional Trading of ImmunityBio

A number of large investors have recently bought and sold shares of the business. Sheets Smith Wealth Management grew its position in shares of ImmunityBio by 380.8% during the 1st quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock worth $5,079,000 after buying an additional 749,041 shares during the period. Rafferty Asset Management LLC bought a new position in ImmunityBio during the fourth quarter worth $3,714,000. Vanguard Group Inc. grew its holdings in ImmunityBio by 1.6% in the first quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock worth $72,708,000 after purchasing an additional 211,065 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ImmunityBio by 37.9% during the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after purchasing an additional 170,742 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of ImmunityBio by 106.3% during the 1st quarter. Blair William & Co. IL now owns 313,542 shares of the company’s stock worth $1,684,000 after purchasing an additional 161,530 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Monday, August 19th.

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.