ImmunityBio (NASDAQ:IBRX) Stock Price Up 2.6% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded up 2.6% on Friday . The stock traded as high as $2.78 and last traded at $2.76. 329,049 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 5,027,464 shares. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

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

ImmunityBio Stock Up 3.3 %

The stock has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $4.61. The firm has a market cap of $1.94 billion, a PE ratio of -3.02 and a beta of 0.86.

Hedge Funds Weigh In On ImmunityBio

A number of large investors have recently modified their holdings of 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 acquiring an additional 790,408 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of ImmunityBio in the 3rd quarter valued at $136,000. Bank of New York Mellon Corp grew its holdings in shares of ImmunityBio by 37.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after purchasing an additional 170,742 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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. Finally, Private Advisor Group LLC lifted its stake in ImmunityBio by 727.7% in the second quarter. Private Advisor Group LLC now owns 86,907 shares of the company’s stock worth $549,000 after purchasing an additional 76,407 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.