ImmunityBio (NASDAQ:IBRX) Stock Price Down 5.1% – Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX) shares traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $2.20 and last traded at $2.1550. 348,522 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 8,842,727 shares. The stock had previously closed at $2.27.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. D. Boral Capital restated a “buy” rating and set a $24.00 price objective on shares of ImmunityBio in a research note on Thursday, December 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group increased their target price on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

ImmunityBio Trading Up 1.2%

The business’s 50 day simple moving average is $2.23 and its two-hundred day simple moving average is $2.49. The firm has a market capitalization of $2.09 billion, a PE ratio of -5.18 and a beta of 0.10.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to the consensus estimate of $31.88 million. As a group, equities research analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thrive Wealth Management LLC raised its position in ImmunityBio by 49.3% in the second quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company’s stock worth $40,000 after acquiring an additional 4,964 shares during the period. Courier Capital LLC increased its stake in shares of ImmunityBio by 12.5% in the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock worth $119,000 after purchasing an additional 5,000 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in ImmunityBio by 6.4% in the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after purchasing an additional 5,000 shares during the period. Creative Planning lifted its position in ImmunityBio by 9.2% during the second quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after purchasing an additional 5,231 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in ImmunityBio by 2.7% during the second quarter. Blair William & Co. IL now owns 239,814 shares of the company’s stock valued at $633,000 after purchasing an additional 6,314 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.