Piper Sandler Raises ImmunityBio (NASDAQ:IBRX) Price Target to $5.00

ImmunityBio (NASDAQ:IBRX) had its price objective hoisted by Piper Sandler from $4.00 to $5.00 in a research report released on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $5.46 on Monday. The stock has a 50 day moving average price of $4.57 and a 200 day moving average price of $3.61. ImmunityBio has a 52 week low of $1.25 and a 52 week high of $6.93. The stock has a market capitalization of $3.68 billion, a PE ratio of -4.71 and a beta of 1.24.

Institutional Trading of ImmunityBio

Hedge funds have recently made changes to their positions in the business. Aire Advisors LLC acquired a new stake in ImmunityBio during the 3rd quarter worth approximately $25,000. Traynor Capital Management Inc. bought a new position in shares of ImmunityBio in the 3rd quarter valued at $25,000. FMR LLC increased its stake in shares of ImmunityBio by 190.0% in the 3rd quarter. FMR LLC now owns 14,881 shares of the company’s stock valued at $25,000 after purchasing an additional 9,749 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of ImmunityBio in the 1st quarter valued at $25,000. Finally, WINTON GROUP Ltd bought a new position in shares of ImmunityBio in the 3rd quarter valued at $26,000. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.