ImmunityBio (NASDAQ:IBRX) Sees Large Volume Increase – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX) shares saw unusually-high trading volume on Monday . Approximately 9,666,023 shares traded hands during trading, an increase of 15% from the previous session’s volume of 8,417,060 shares.The stock last traded at $2.3550 and had previously closed at $2.36.

Analyst Ratings Changes

A number of research firms recently issued reports on IBRX. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a research note on Wednesday, September 10th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ImmunityBio has an average rating of “Moderate Buy” and an average target price of $10.75.

ImmunityBio Stock Performance

The company has a 50 day moving average of $2.33 and a 200-day moving average of $2.55. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -5.30 and a beta of 0.10.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $31.88 million. On average, research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Several large investors have recently added to or reduced their stakes in IBRX. Financial Enhancement Group LLC acquired a new stake in ImmunityBio during the second quarter worth $28,000. Slow Capital Inc. acquired a new stake in shares of ImmunityBio during the 3rd quarter valued at about $25,000. Compound Planning Inc. acquired a new position in shares of ImmunityBio in the 1st quarter worth approximately $30,000. Envision Financial Planning LLC bought a new position in shares of ImmunityBio during the second quarter valued at $28,000. Finally, Summit X LLC bought a new stake in shares of ImmunityBio in the 2nd quarter worth about $28,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.