ImmunityBio, Inc. (NASDAQ:IBRX) Sees Significant Growth in Short Interest

ImmunityBio, Inc. (NASDAQ:IBRX) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 50,010,000 shares, a growth of 12.6% from the December 15th total of 44,410,000 shares. Based on an average daily volume of 6,580,000 shares, the days-to-cover ratio is currently 7.6 days.

Institutional Investors Weigh In On ImmunityBio

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new stake in shares of ImmunityBio in the 3rd quarter valued at about $41,000. Algert Global LLC bought a new stake in ImmunityBio during the 2nd quarter valued at $86,000. Virtu Financial LLC acquired a new stake in shares of ImmunityBio in the 3rd quarter worth about $51,000. Mutual Advisors LLC bought a new position in ImmunityBio in the 4th quarter valued at about $41,000. Finally, Dimensional Fund Advisors LP bought a new stake in ImmunityBio during the 2nd quarter worth approximately $105,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBRX has been the subject of several research reports. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Thursday. Finally, BTIG Research began coverage on ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company.

ImmunityBio Trading Down 3.3 %

Shares of IBRX stock traded down $0.10 on Friday, hitting $2.94. The company had a trading volume of 11,795,251 shares, compared to its average volume of 5,029,692. The stock’s 50-day moving average is $3.69 and its two-hundred day moving average is $4.21. ImmunityBio has a twelve month low of $2.28 and a twelve month high of $10.53.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.