ImmunityBio Sees Unusually Large Options Volume (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) saw some unusual options trading activity on Tuesday. Stock investors bought 15,127 call options on the stock. This represents an increase of approximately 242% compared to the typical volume of 4,422 call options.

ImmunityBio Price Performance

Shares of ImmunityBio stock opened at $3.02 on Thursday. The company has a market capitalization of $2.97 billion, a P/E ratio of -7.37 and a beta of 0.03. The business has a 50-day moving average of $2.19 and a two-hundred day moving average of $2.41. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $4.27.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $32.06 million for the quarter, compared to the consensus estimate of $31.88 million. On average, equities analysts anticipate that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thrive Wealth Management LLC boosted its position in shares of ImmunityBio by 49.3% during the second quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company’s stock worth $40,000 after buying an additional 4,964 shares during the period. Courier Capital LLC boosted its position in ImmunityBio by 12.5% during the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock worth $119,000 after acquiring an additional 5,000 shares during the last quarter. Bell & Brown Wealth Advisors LLC grew its stake in shares of ImmunityBio by 6.4% during the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after acquiring an additional 5,000 shares in the last quarter. Creative Planning grew its stake in shares of ImmunityBio by 9.2% during the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock worth $164,000 after acquiring an additional 5,231 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of ImmunityBio by 2.7% in the second quarter. Blair William & Co. IL now owns 239,814 shares of the company’s stock valued at $633,000 after purchasing an additional 6,314 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IBRX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. 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 note on Friday, December 12th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $24.00 price target on shares of ImmunityBio in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.50.

About ImmunityBio

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.