ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) shot up 7.8% on Wednesday . The stock traded as high as $6.08 and last traded at $6.05. 6,335,989 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 4,918,960 shares. The stock had previously closed at $5.61.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on IBRX. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. Piper Sandler dropped their price objective on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a report on Monday, August 19th.
Get Our Latest Research Report on IBRX
ImmunityBio Price Performance
ImmunityBio (NASDAQ:IBRX – Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $1.05 million during the quarter, compared to analyst estimates of $2.53 million. Sell-side analysts predict that ImmunityBio, Inc. will post -0.86 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ImmunityBio
Institutional investors and hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC bought a new position in ImmunityBio in the 1st quarter worth about $58,000. Lazard Asset Management LLC grew its position in ImmunityBio by 102.6% in the first quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after acquiring an additional 6,593 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in ImmunityBio during the 1st quarter worth approximately $85,000. Algert Global LLC bought a new position in ImmunityBio during the 2nd quarter worth approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $99,000 after acquiring an additional 4,545 shares during the last quarter. 8.58% of the stock is owned by 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.
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