ImmunityBio (NASDAQ:IBRX) Trading Down 6.8% – Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price fell 6.8% during trading on Monday . The company traded as low as $3.13 and last traded at $3.22. 1,569,042 shares were traded during trading, a decline of 76% from the average session volume of 6,540,424 shares. The stock had previously closed at $3.45.

Wall Street Analyst Weigh In

IBRX has been the subject of several analyst reports. BTIG Research started coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, D. Boral Capital reiterated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Monday, January 27th.

ImmunityBio Stock Performance

The business’s fifty day simple moving average is $3.33 and its 200 day simple moving average is $3.97. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -3.53 and a beta of 0.94.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its stake in ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Barclays PLC raised its holdings in shares of ImmunityBio by 127.4% during the third quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after purchasing an additional 202,248 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of ImmunityBio in the 2nd quarter worth about $515,000. GSA Capital Partners LLP boosted its holdings in shares of ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock valued at $402,000 after buying an additional 80,318 shares during the period. Finally, XTX Topco Ltd raised its stake in ImmunityBio by 309.4% during the third quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock worth $346,000 after acquiring an additional 70,215 shares during the period. 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.