ImmunityBio (NASDAQ:IBRX) Hits New 12-Month Low – Here’s Why

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.61 and last traded at $2.65, with a volume of 5557991 shares changing hands. The stock had previously closed at $2.83.

Analysts Set New Price Targets

A number of research analysts have commented on IBRX shares. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Thursday, November 21st. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Stock Down 6.4 %

The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -2.88 and a beta of 0.86. The stock has a 50 day simple moving average of $4.52 and a 200 day simple moving average of $4.78.

Hedge Funds Weigh In On ImmunityBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in ImmunityBio during the 3rd quarter valued at $41,000. Virtu Financial LLC bought a new stake in shares of ImmunityBio during the third quarter valued at about $51,000. Algert Global LLC acquired a new stake in ImmunityBio in the second quarter worth about $86,000. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 4,545 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in ImmunityBio during the 2nd quarter valued at about $105,000. 8.58% of the stock is 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.