ImmunityBio, Inc. (NASDAQ:IBRX – Get Rating) was down 11.5% during mid-day trading on Friday . The company traded as low as $5.68 and last traded at $5.69. Approximately 35,224 shares changed hands during trading, a decline of 97% from the average daily volume of 1,358,237 shares. The stock had previously closed at $6.43.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on IBRX shares. Piper Sandler decreased their price target on ImmunityBio from $20.00 to $10.00 in a research note on Friday, May 27th. Jefferies Financial Group started coverage on ImmunityBio in a research note on Wednesday, August 3rd. They set a "buy" rating and a $8.00 price target for the company.
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The firm has a 50 day moving average price of $4.46 and a two-hundred day moving average price of $4.48.
Institutional Investors Weigh In On ImmunityBio
Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd boosted its stake in shares of ImmunityBio by 2,136.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 6,149 shares of the company's stock worth $34,000 after acquiring an additional 5,874 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of ImmunityBio by 95.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 7,943 shares of the company's stock worth $51,000 after acquiring an additional 3,878 shares in the last quarter. Amalgamated Bank bought a new stake in shares of ImmunityBio during the 1st quarter worth $48,000. Sigma Planning Corp bought a new stake in shares of ImmunityBio during the 1st quarter worth $59,000. Finally, Toroso Investments LLC bought a new stake in shares of ImmunityBio during the 1st quarter worth $63,000. 8.29% of the stock is owned by institutional investors.About ImmunityBio
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ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive (T cell) immune systems.
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