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

ImmunityBio, Inc. (NASDAQ:IBRX) was the target of a significant 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 trading volume of 6,580,000 shares, the short-interest ratio is currently 7.6 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IBRX. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a report on Thursday.

ImmunityBio Stock Performance

Shares of IBRX opened at $2.94 on Monday. The business has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.20. ImmunityBio has a 52 week low of $2.28 and a 52 week high of $10.53.

Institutional Trading of ImmunityBio

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in ImmunityBio during the third quarter worth $41,000. Mutual Advisors LLC purchased a new position in ImmunityBio in the fourth quarter valued at about $41,000. Virtu Financial LLC purchased a new stake in ImmunityBio during the third quarter valued at approximately $51,000. Algert Global LLC purchased a new position in ImmunityBio during the 2nd quarter worth $86,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ImmunityBio by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after acquiring an additional 4,545 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.

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.