ImmunityBio (NASDAQ:IBRX) Hits New 1-Year Low – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $2.45 and last traded at $2.46, with a volume of 1037833 shares traded. The stock had previously closed at $2.56.

Analyst Upgrades and Downgrades

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

ImmunityBio Stock Down 5.1 %

The firm has a market capitalization of $1.69 billion, a P/E ratio of -2.64 and a beta of 0.86. The business’s 50-day simple moving average is $4.02 and its 200 day simple moving average is $4.40.

Institutional Trading of ImmunityBio

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in ImmunityBio during the third quarter valued at $51,000. Barclays PLC raised its position in shares of ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after purchasing an additional 202,248 shares during the last quarter. XTX Topco Ltd boosted its stake in ImmunityBio by 309.4% in the 3rd quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock worth $346,000 after purchasing an additional 70,215 shares in the last quarter. State Street Corp grew 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 valued at $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in ImmunityBio in the third quarter worth about $136,000. 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.