ImmunityBio (NASDAQ:IBRX) Shares Gap Up to $4.94

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.94, but opened at $6.15. ImmunityBio shares last traded at $5.05, with a volume of 15,358,833 shares.

Analyst Upgrades and Downgrades

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

ImmunityBio Stock Performance

The company has a 50 day moving average of $5.20 and a 200 day moving average of $4.14.

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

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new stake in shares of ImmunityBio in the 1st quarter valued at about $58,000. Wealth Effects LLC raised its stake in shares of ImmunityBio by 10.1% in the 1st quarter. Wealth Effects LLC now owns 65,500 shares of the company’s stock valued at $352,000 after purchasing an additional 6,000 shares during the period. Courier Capital LLC raised its stake in shares of ImmunityBio by 33.3% in the 1st quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares during the period. Brookstone Capital Management acquired a new stake in shares of ImmunityBio in the 1st quarter valued at about $100,000. Finally, Virtu Financial LLC bought a new position in shares of ImmunityBio in the 4th quarter valued at about $304,000. 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.