ImmunityBio (NASDAQ:IBRX) Trading 4.5% Higher

ImmunityBio, Inc. (NASDAQ:IBRX) shares shot up 4.5% during mid-day trading on Friday . The company traded as high as $5.13 and last traded at $5.13. 339,504 shares changed hands during trading, a decline of 91% from the average session volume of 3,969,610 shares. The stock had previously closed at $4.91.

Analyst Upgrades and Downgrades

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

ImmunityBio Stock Up 7.3 %

The business’s fifty day moving average is $5.16 and its two-hundred day moving average is $4.07. The stock has a market capitalization of $3.57 billion, a PE ratio of -4.54 and a beta of 1.23.

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

Institutional Trading of ImmunityBio

A number of institutional investors have recently bought and sold shares of IBRX. Swiss National Bank lifted its position in ImmunityBio by 9.2% in the first quarter. Swiss National Bank now owns 188,000 shares of the company’s stock worth $1,055,000 after buying an additional 15,900 shares during the last quarter. MetLife Investment Management LLC lifted its position in ImmunityBio by 28.5% in the first quarter. MetLife Investment Management LLC now owns 33,258 shares of the company’s stock worth $187,000 after buying an additional 7,377 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ImmunityBio by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 493,059 shares of the company’s stock worth $2,767,000 after buying an additional 16,672 shares during the last quarter. Vident Investment Advisory LLC lifted its position in shares of ImmunityBio by 19.7% during the first quarter. Vident Investment Advisory LLC now owns 201,588 shares of the company’s stock worth $1,131,000 after purchasing an additional 33,112 shares during the last quarter. Finally, State Street Corp lifted its position in shares of ImmunityBio by 8.8% during the first quarter. State Street Corp now owns 6,760,306 shares of the company’s stock worth $37,925,000 after purchasing an additional 544,929 shares during the last quarter. 8.58% of the stock is currently owned by institutional investors.

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.