ImmunityBio (NASDAQ:IBRX) Trading Down 8.1% – Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price fell 8.1% on Thursday . The company traded as low as $3.55 and last traded at $3.59. 5,056,670 shares were traded during trading, a decline of 19% from the average session volume of 6,274,826 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research note on Friday, February 14th. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research assumed coverage on ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company.

ImmunityBio Trading Down 6.7 %

The business’s fifty day moving average price is $2.97 and its 200-day moving average price is $3.79. The company has a market capitalization of $2.54 billion, a P/E ratio of -3.96 and a beta of 0.94.

Hedge Funds Weigh In On ImmunityBio

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in ImmunityBio by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after acquiring an additional 425,713 shares during the last quarter. State Street Corp grew its holdings in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Woodline Partners LP raised its position in ImmunityBio by 682.7% in the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after purchasing an additional 3,002,622 shares during the period. Tang Capital Management LLC bought a new stake in ImmunityBio in the fourth quarter worth $7,204,000. Finally, Northern Trust Corp boosted its position in ImmunityBio by 7.9% during the fourth quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after buying an additional 97,348 shares during the period. 8.58% of the stock is currently owned by institutional investors.

About ImmunityBio

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.