ImmunityBio, Inc. (NASDAQ:IBRX) Short Interest Update

ImmunityBio, Inc. (NASDAQ:IBRX) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 44,410,000 shares, a drop of 10.8% from the November 30th total of 49,780,000 shares. Based on an average daily trading volume, of 6,080,000 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently made changes to their positions in IBRX. State Street Corp grew its position in ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares during the period. Barclays PLC boosted its stake in shares of ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after acquiring an additional 202,248 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of ImmunityBio during the 3rd quarter valued at $136,000. Bank of New York Mellon Corp increased its stake in shares of ImmunityBio by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after purchasing an additional 170,742 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in ImmunityBio by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after purchasing an additional 4,545 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Price Performance

ImmunityBio stock traded down $0.10 during mid-day trading on Monday, reaching $2.68. 8,005,390 shares of the stock traded hands, compared to its average volume of 5,070,578. The stock has a market capitalization of $1.87 billion, a PE ratio of -2.91 and a beta of 0.86. The business’s 50-day moving average is $4.40 and its 200-day moving average is $4.60. ImmunityBio has a 12-month low of $2.50 and a 12-month high of $10.53.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research note on Friday, December 20th. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd.

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.