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

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

ImmunityBio Price Performance

IBRX traded down $0.25 during midday trading on Monday, reaching $3.20. 4,468,574 shares of the company’s stock were exchanged, compared to its average volume of 6,688,516. The business’s 50-day moving average price is $3.33 and its 200 day moving average price is $3.97. ImmunityBio has a 1-year low of $2.28 and a 1-year high of $10.53. The stock has a market capitalization of $2.23 billion, a PE ratio of -3.48 and a beta of 0.94.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently bought and sold shares of IBRX. State Street Corp increased its position in ImmunityBio by 10.1% during the 3rd 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of ImmunityBio by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock worth $4,709,000 after acquiring an additional 29,665 shares during the period. Barclays PLC grew its stake in shares of 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 buying an additional 202,248 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of ImmunityBio by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 147,754 shares of the company’s stock valued at $378,000 after purchasing an additional 13,788 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in ImmunityBio by 290.3% during the third quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock valued at $402,000 after buying an additional 80,318 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IBRX. D. Boral Capital restated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Monday, January 27th. BTIG Research started coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

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.