ImmunityBio (NASDAQ:IBRX) Shares Down 5.2% – Here’s What Happened

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) were down 5.2% during mid-day trading on Tuesday . The stock traded as low as $2.32 and last traded at $2.35. Approximately 909,176 shares traded hands during trading, a decline of 79% from the average daily volume of 4,314,528 shares. The stock had previously closed at $2.48.

Analyst Ratings Changes

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

ImmunityBio Trading Up 27.2 %

The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -3.30 and a beta of 0.86. The stock has a 50-day moving average of $3.78 and a 200-day moving average of $4.26.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in ImmunityBio in the 3rd quarter valued at about $41,000. Virtu Financial LLC bought a new stake in shares of ImmunityBio during the third quarter valued at approximately $51,000. Algert Global LLC acquired a new position in shares of ImmunityBio during the second quarter worth approximately $86,000. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $99,000 after buying an additional 4,545 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in ImmunityBio in the 2nd quarter worth approximately $105,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.