ImmunityBio (NASDAQ:IBRX) Hits New 12-Month Low – Time to Sell?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) reached a new 52-week low on Friday . The stock traded as low as $2.96 and last traded at $3.02, with a volume of 565652 shares traded. The stock had previously closed at $3.04.

Analyst Ratings Changes

IBRX has been the topic of a number of recent research reports. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. Piper Sandler decreased their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Thursday, November 21st.

ImmunityBio Stock Down 5.6 %

The company’s fifty day moving average price is $4.56 and its two-hundred day moving average price is $4.86. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -3.12 and a beta of 0.86.

Hedge Funds Weigh In On ImmunityBio

A number of large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of ImmunityBio by 16.0% during the second quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock worth $126,000 after buying an additional 2,746 shares during the period. Wealth Effects LLC lifted its position in ImmunityBio by 3.4% during the 3rd quarter. Wealth Effects LLC now owns 90,500 shares of the company’s stock worth $337,000 after buying an additional 3,000 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in ImmunityBio by 8.4% during the third quarter. Exchange Traded Concepts LLC now owns 47,984 shares of the company’s stock valued at $178,000 after purchasing an additional 3,722 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ImmunityBio by 22.0% during 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 last quarter. Finally, Courier Capital LLC raised its stake in shares of ImmunityBio by 50.0% during the 3rd quarter. Courier Capital LLC now owns 30,000 shares of the company’s stock worth $112,000 after purchasing an additional 10,000 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.