ImmunityBio (NASDAQ:IBRX) Shares Gap Up – What’s Next?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) gapped up before the market opened on Tuesday . The stock had previously closed at $2.89, but opened at $2.97. ImmunityBio shares last traded at $2.91, with a volume of 1,154,488 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a report on Wednesday. D. Boral Capital reissued a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Tuesday. Finally, BTIG Research assumed coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ImmunityBio has a consensus rating of “Buy” and an average price target of $12.19.

ImmunityBio Trading Down 10.8 %

The firm’s 50 day simple moving average is $2.98 and its 200-day simple moving average is $3.51. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -2.70 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $8.74 million. As a group, equities research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Courier Capital LLC raised its position in ImmunityBio by 33.3% during the first quarter. Courier Capital LLC now owns 40,000 shares of the company’s stock worth $120,000 after acquiring an additional 10,000 shares in the last quarter. Thrive Wealth Management LLC bought a new stake in shares of ImmunityBio in the 1st quarter valued at about $30,000. Rhumbline Advisers lifted its stake in ImmunityBio by 5.6% in the 1st quarter. Rhumbline Advisers now owns 219,360 shares of the company’s stock valued at $660,000 after purchasing an additional 11,573 shares during the last quarter. Collective Family Office LLC increased its position in ImmunityBio by 17.3% during the first quarter. Collective Family Office LLC now owns 104,170 shares of the company’s stock worth $314,000 after buying an additional 15,340 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in ImmunityBio in the fourth quarter valued at approximately $37,000. 8.58% of the stock is owned by institutional investors.

ImmunityBio Company Profile

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.