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

ImmunityBio, Inc. (NASDAQ:IBRX) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 50,010,000 shares, an increase of 12.6% from the December 15th total of 44,410,000 shares. Based on an average daily volume of 6,580,000 shares, the days-to-cover ratio is presently 7.6 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. BTIG Research initiated coverage on shares of ImmunityBio in a research report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target for the company. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Thursday.

ImmunityBio Trading Down 3.3 %

Shares of IBRX opened at $2.94 on Monday. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53. The company’s fifty day moving average is $3.69 and its two-hundred day moving average is $4.20.

Institutional Trading of ImmunityBio

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in ImmunityBio by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock valued at $126,000 after acquiring an additional 2,746 shares in the last quarter. Wealth Effects LLC raised its stake in shares of ImmunityBio by 3.4% in the 3rd quarter. Wealth Effects LLC now owns 90,500 shares of the company’s stock valued at $337,000 after acquiring an additional 3,000 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of ImmunityBio by 8.4% in the third quarter. Exchange Traded Concepts LLC now owns 47,984 shares of the company’s stock worth $178,000 after purchasing an additional 3,722 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in ImmunityBio by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares during the period. Finally, Courier Capital LLC increased its position in ImmunityBio by 50.0% in the 3rd quarter. Courier Capital LLC now owns 30,000 shares of the company’s stock worth $112,000 after buying an additional 10,000 shares during the period. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.