ImmunityBio (NASDAQ:IBRX) Trading Up 7% – Still a Buy?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) were up 7% during mid-day trading on Friday . The stock traded as high as $2.77 and last traded at $2.75. Approximately 1,460,317 shares traded hands during trading, a decline of 42% from the average daily volume of 2,534,059 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

IBRX has been the topic of several research analyst reports. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital restated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Friday, December 20th.

ImmunityBio Stock Up 8.6 %

The company has a market capitalization of $1.94 billion, a P/E ratio of -3.03 and a beta of 0.86. The business has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $4.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of ImmunityBio during the third quarter worth approximately $51,000. Barclays PLC raised its stake in ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after acquiring an additional 202,248 shares in the last quarter. XTX Topco Ltd boosted its position in ImmunityBio by 309.4% during the 3rd 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. State Street Corp grew its stake in shares of ImmunityBio by 10.1% in 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 in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of ImmunityBio during the third quarter valued at $136,000. Institutional investors 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.