ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.92

ImmunityBio, Inc. (NASDAQ:IBRX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.92, but opened at $5.09. ImmunityBio shares last traded at $4.98, with a volume of 315,007 shares.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on shares of ImmunityBio from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th.

ImmunityBio Stock Down 6.3 %

The business’s fifty day simple moving average is $5.15 and its 200 day simple moving average is $4.02.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.03 million. Equities analysts predict that ImmunityBio, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently bought and sold shares of IBRX. Armistice Capital LLC acquired a new stake in ImmunityBio in the first quarter worth $10,549,000. State Street Corp lifted its stake in shares of ImmunityBio by 255.9% in the third quarter. State Street Corp now owns 6,649,331 shares of the company’s stock valued at $33,047,000 after buying an additional 4,780,807 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of ImmunityBio by 42.0% in the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after buying an additional 4,342,386 shares in the last quarter. BlackRock Inc. lifted its stake in shares of ImmunityBio by 36.4% in the second quarter. BlackRock Inc. now owns 9,498,666 shares of the company’s stock valued at $26,406,000 after buying an additional 2,533,147 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of ImmunityBio by 40.3% in the second quarter. Geode Capital Management LLC now owns 2,730,452 shares of the company’s stock valued at $7,591,000 after buying an additional 784,588 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.