ImmunityBio (NASDAQ:IBRX) Shares Gap Up – What’s Next?

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) gapped up before the market opened on Tuesday . The stock had previously closed at $5.95, but opened at $6.26. ImmunityBio shares last traded at $6.0450, with a volume of 5,182,368 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BTIG Research lifted their target price on shares of ImmunityBio from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. Piper Sandler upped their price objective on shares of ImmunityBio from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. D. Boral Capital reissued a “buy” rating and issued a $24.00 target price on shares of ImmunityBio in a research note on Tuesday. Finally, Jefferies Financial Group upped their price target on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

ImmunityBio Trading Up 0.4%

The stock’s fifty day moving average price is $4.02 and its 200 day moving average price is $2.96. The stock has a market cap of $5.89 billion, a P/E ratio of -14.60 and a beta of 0.14.

Insider Buying and Selling

In other ImmunityBio news, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction on Friday, January 16th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Simon sold 151,967 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. The trade was a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 226,967 shares of company stock valued at $1,531,912 in the last ninety days. Insiders own 69.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of ImmunityBio by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after acquiring an additional 5,122,052 shares in the last quarter. State Street Corp increased its holdings in shares of ImmunityBio by 45.4% in the 4th quarter. State Street Corp now owns 16,455,703 shares of the company’s stock worth $32,582,000 after purchasing an additional 5,139,890 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ImmunityBio by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 7,920,178 shares of the company’s stock worth $15,684,000 after purchasing an additional 1,030,113 shares during the last quarter. Armistice Capital LLC bought a new position in shares of ImmunityBio during the second quarter valued at $20,497,000. Finally, Heights Capital Management Inc. bought a new stake in shares of ImmunityBio in the third quarter worth approximately $16,152,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.