ImmunityBio Target of Unusually High Options Trading (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) saw unusually large options trading on Tuesday. Stock investors purchased 23,649 call options on the stock. This is an increase of approximately 308% compared to the typical daily volume of 5,801 call options.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their target price on shares of ImmunityBio from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, March 25th.

ImmunityBio Trading Up 11.9 %

Shares of IBRX stock traded up $0.59 during trading hours on Tuesday, hitting $5.53. The company’s stock had a trading volume of 22,622,081 shares, compared to its average volume of 4,273,971. ImmunityBio has a twelve month low of $1.25 and a twelve month high of $6.93. The business has a fifty day moving average of $5.17 and a 200-day moving average of $4.11. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -4.68 and a beta of 1.23.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, equities analysts expect that ImmunityBio will post -0.68 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Traynor Capital Management Inc. bought a new stake in ImmunityBio during the third quarter valued at $25,000. Aire Advisors LLC bought a new stake in shares of ImmunityBio during the 3rd quarter valued at about $25,000. WINTON GROUP Ltd acquired a new stake in ImmunityBio during the third quarter worth about $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ImmunityBio during the third quarter worth about $37,000. Finally, Meridian Management Co. acquired a new position in ImmunityBio during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.