ImmunityBio (NASDAQ:IBRX) Trading Up 6.2%

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) were up 6.2% during trading on Thursday . The stock traded as high as $5.82 and last traded at $5.80. Approximately 1,988,923 shares were traded during trading, a decline of 50% from the average daily volume of 3,987,718 shares. The stock had previously closed at $5.46.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price on shares of ImmunityBio from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Monday.

ImmunityBio Price Performance

The stock’s fifty day simple moving average is $4.57 and its 200-day simple moving average is $3.61. The stock has a market cap of $3.62 billion, a P/E ratio of -4.63 and a beta of 1.24.

Institutional Investors Weigh In On ImmunityBio

Large investors have recently made changes to their positions in the company. Armistice Capital LLC acquired a new stake in shares of ImmunityBio in the third quarter valued at approximately $5,874,000. Exchange Traded Concepts LLC increased its stake in shares of ImmunityBio by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 58,136 shares of the company’s stock valued at $98,000 after acquiring an additional 10,596 shares during the period. Principal Financial Group Inc. increased its stake in shares of ImmunityBio by 14.3% during the second quarter. Principal Financial Group Inc. now owns 74,054 shares of the company’s stock valued at $206,000 after acquiring an additional 9,246 shares during the period. Blair William & Co. IL increased its stake in shares of ImmunityBio by 200.7% during the third quarter. Blair William & Co. IL now owns 162,462 shares of the company’s stock valued at $275,000 after acquiring an additional 108,431 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of ImmunityBio during the third quarter valued at approximately $37,000. 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 discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.