ImmunityBio (NASDAQ:IBRX) Shares Gap Up – What’s Next?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.19, but opened at $2.29. ImmunityBio shares last traded at $2.3550, with a volume of 8,162,931 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. D. Boral Capital reiterated a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 8th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a report on Wednesday, September 10th. Finally, Jefferies Financial Group increased their price objective on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ImmunityBio currently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

ImmunityBio Stock Performance

The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -5.76 and a beta of 0.10. The business has a fifty day simple moving average of $2.29 and a 200 day simple moving average of $2.52.

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

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Slow Capital Inc. acquired a new stake in shares of ImmunityBio during the 3rd quarter worth approximately $25,000. Truist Financial Corp bought a new stake in shares of ImmunityBio during the 3rd quarter worth $27,000. Swiss Life Asset Management Ltd acquired a new stake in ImmunityBio in the third quarter valued at about $27,000. Diversify Advisory Services LLC acquired a new stake in ImmunityBio in the second quarter valued at about $27,000. Finally, Financial Enhancement Group LLC bought a new position in ImmunityBio in the second quarter valued at about $28,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.