ImmunityBio, Inc. (NASDAQ:IBRX) Sees Large Increase in Short Interest

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 109,024,436 shares, a growth of 23.1% from the November 30th total of 88,553,549 shares. Based on an average daily trading volume, of 13,201,119 shares, the short-interest ratio is presently 8.3 days. Approximately 36.3% of the shares of the company are short sold. Approximately 36.3% of the shares of the company are short sold. Based on an average daily trading volume, of 13,201,119 shares, the short-interest ratio is presently 8.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBRX. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a research note on Wednesday, September 10th. D. Boral Capital reiterated a “buy” rating and issued a $24.00 target price on shares of ImmunityBio in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday. Finally, Jefferies Financial Group raised their price objective on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

ImmunityBio Price Performance

Shares of IBRX opened at $1.98 on Friday. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $4.27. The stock has a market cap of $1.95 billion, a PE ratio of -4.83 and a beta of 0.03. The business’s 50-day moving average price is $2.18 and its 200-day moving average price is $2.44.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $31.88 million. Analysts expect that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Enhancement Group LLC bought a new stake in ImmunityBio during the second quarter valued at $28,000. Slow Capital Inc. purchased a new stake in shares of ImmunityBio in the 3rd quarter valued at about $25,000. Envision Financial Planning LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter valued at about $28,000. Summit X LLC bought a new stake in shares of ImmunityBio during the 2nd quarter valued at about $28,000. Finally, Diversify Advisory Services LLC purchased a new position in shares of ImmunityBio during the second quarter worth about $27,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.