ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $7.81

ImmunityBio, Inc. (NASDAQ:IBRX) gapped up prior to trading on Tuesday . The stock had previously closed at $7.81, but opened at $8.42. ImmunityBio shares last traded at $8.41, with a volume of 2,034,420 shares trading hands.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their price target on ImmunityBio from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, April 29th.

ImmunityBio Price Performance

The stock’s 50 day moving average is $5.88 and its two-hundred day moving average is $4.61. The firm has a market cap of $5.46 billion, a P/E ratio of -6.83 and a beta of 1.16.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. As a group, research analysts forecast that ImmunityBio, Inc. will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IBRX. Tower Research Capital LLC TRC lifted its position in shares of ImmunityBio by 43.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after purchasing an additional 2,844 shares in the last quarter. Meridian Management Co. acquired a new stake in shares of ImmunityBio in the 4th quarter valued at $46,000. Private Advisor Group LLC acquired a new position in shares of ImmunityBio during the fourth quarter valued at $53,000. Simplicity Wealth LLC acquired a new stake in ImmunityBio in the first quarter worth about $58,000. Finally, Bleakley Financial Group LLC acquired a new position in ImmunityBio during the 1st quarter valued at about $58,000. Institutional investors own 8.58% of the company’s stock.

About ImmunityBio

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.