ImmunityBio Sees Unusually Large Options Volume (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) was the recipient of some unusual options trading on Tuesday. Traders bought 23,649 call options on the company. This represents an increase of 308% compared to the average daily volume of 5,801 call options.

ImmunityBio Stock Up 11.1 %

Shares of IBRX opened at $5.49 on Wednesday. The company has a market cap of $3.72 billion, a PE ratio of -4.73 and a beta of 1.23. The business has a fifty day moving average of $5.19 and a 200 day moving average of $4.14. ImmunityBio has a 52-week low of $1.25 and a 52-week high of $6.93.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, research analysts anticipate that ImmunityBio will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of ImmunityBio

A number of institutional investors have recently bought and sold shares of IBRX. Tower Research Capital LLC TRC increased its stake in ImmunityBio by 43.4% in 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 during the period. Meridian Management Co. purchased a new stake in ImmunityBio in the fourth quarter worth $46,000. Private Advisor Group LLC purchased a new stake in ImmunityBio in the fourth quarter worth $53,000. Russell Investments Group Ltd. increased its stake in ImmunityBio by 408.3% in the fourth quarter. Russell Investments Group Ltd. now owns 14,766 shares of the company’s stock worth $74,000 after purchasing an additional 11,861 shares during the period. Finally, Aire Advisors LLC purchased a new stake in ImmunityBio in the third quarter worth $25,000. 8.58% of the stock is currently owned by institutional investors.

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.