ImmunityBio (NASDAQ:IBRX) Trading Down 5.4% – Should You Sell?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) fell 5.4% during mid-day trading on Tuesday . The stock traded as low as $2.17 and last traded at $2.1750. 2,432,404 shares changed hands during trading, a decline of 71% from the average session volume of 8,432,342 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

IBRX has been the topic of a number of research analyst reports. D. Boral Capital reiterated a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a research report on Thursday, November 13th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of ImmunityBio in a research note on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.75.

ImmunityBio Price Performance

The firm’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $2.55. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -5.09 and a beta of 0.29.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The company had revenue of $32.06 million for the quarter, compared to analyst estimates of $31.88 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently bought and sold shares of IBRX. Thrive Wealth Management LLC raised its position in ImmunityBio by 49.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company’s stock worth $40,000 after buying an additional 4,964 shares during the last quarter. Courier Capital LLC increased its stake in shares of ImmunityBio by 12.5% during the second quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock worth $119,000 after acquiring an additional 5,000 shares during the period. Bell & Brown Wealth Advisors LLC increased its stake in shares of ImmunityBio by 6.4% during the third quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after acquiring an additional 5,000 shares during the period. Creative Planning raised its holdings in ImmunityBio by 9.2% during the second quarter. Creative Planning now owns 62,028 shares of the company’s stock worth $164,000 after purchasing an additional 5,231 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in ImmunityBio by 5.4% in the first quarter. XTX Topco Ltd now owns 111,647 shares of the company’s stock valued at $336,000 after purchasing an additional 5,764 shares during the period. 8.58% of the stock is currently owned by hedge funds and other 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.