ImmunityBio (NASDAQ:IBRX) Shares Gap Up – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX) shares gapped up prior to trading on Friday . The stock had previously closed at $2.86, but opened at $3.12. ImmunityBio shares last traded at $3.31, with a volume of 2,906,520 shares changing hands.

Analyst Ratings Changes

IBRX has been the subject of a number of analyst reports. D. Boral Capital reissued a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Friday. BTIG Research initiated coverage on shares of ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company.

ImmunityBio Price Performance

The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -3.58 and a beta of 0.94. The stock has a 50 day simple moving average of $3.01 and a two-hundred day simple moving average of $3.75.

Institutional Investors Weigh In On ImmunityBio

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

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.