ImmunityBio (NASDAQ:IBRX) Trading Up 17.2% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) traded up 17.2% during trading on Wednesday . The company traded as high as $3.72 and last traded at $3.61. 4,332,230 shares changed hands during trading, a decline of 30% from the average session volume of 6,148,494 shares. The stock had previously closed at $3.08.

Analysts Set New Price Targets

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

ImmunityBio Stock Up 1.9 %

The stock’s 50-day simple moving average is $3.43 and its two-hundred day simple moving average is $4.03. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -3.40 and a beta of 0.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Inc. AR acquired a new position in shares of ImmunityBio during the fourth quarter valued at approximately $26,000. Captrust Financial Advisors purchased a new position in ImmunityBio in the 3rd quarter valued at $41,000. Algert Global LLC acquired a new stake in ImmunityBio during the 2nd quarter worth $86,000. Virtu Financial LLC purchased a new stake in shares of ImmunityBio during the third quarter worth $51,000. Finally, Mutual Advisors LLC acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $41,000. 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.