As published in their initiating research note from Jefferies on August 03, 2022, ImmunityBio Inc. [IBRX] has been a Buy and the price target has been revised to $8. This represents a 65.75% premium over Thursday’s closing price.
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Analyzing IBRX Stock Performance
On Thursday, ImmunityBio Inc. [NASDAQ: IBRX] plunged -2.49% to $2.74. The stock’s lowest price that day was $2.60, but it reached a high of $2.94 in the same session. During the last five days, there has been a drop of approximately -21.71%. Over the course of the year, ImmunityBio Inc. shares have dropped approximately -45.96%. Shares of the company reached a 52-week high of $5.25 on 01/03/23 and a 52-week low of $2.60 on 02/23/23. A 50-day SMA is recorded $4.57, while a 200-day SMA reached $4.58. Nevertheless, trading volume fell to 3.81 million shares from 3.66 million shares the previous day.
Support And Resistance Levels for ImmunityBio Inc. (IBRX)
According to the 24-hour chart, there is a support level at 2.58, which, if violated, would cause prices to drop to 2.42. In the upper region, resistance lies at 2.92. The next price resistance is at 3.10. RSI (Relative Strength Index) is 20.91 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 92.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is ImmunityBio Inc. subject to short interest?
Stocks of ImmunityBio Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.6 million shares to 24.03 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 22.43 million shares. A jump of 6.66% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 13.8 of the overall float, the days-to-cover ratio (short ratio) jumped to 13.8.
Which companies own the most shares of ImmunityBio Inc. (IBRX)?
According to The Vanguard Group, Inc. filings, the company currently owns 8,022,825 shares, which is about 1.96% of the total IBRX shares outstanding. The investor’s shares have appreciated by 171,779 from its previous 13-F filing of 7851046.0 shares. SSgA Funds Management, Inc. acquire a 1.30% interest valued at $25.6 million while BlackRock Fund Advisors purchased a 1,050,639 stake. A total of 2,980,044 shares of ImmunityBio Inc. were bought by Callan Capital LLC during the quarter, and 108,903 were bought by Geode Capital Management LLC. In its current portfolio, JPMorgan Asset Management holds 1,340,086 shares valued at $5.09 million.
In terms of ImmunityBio Inc. share price expectations, FactSet research, analysts set an average price target of $9.00 in the next 12 months, up nearly 220.28% from the previous closing price of $2.81. Analysts anticipate ImmunityBio Inc. stock to reach $10.00 by 2023, with the lowest price target being $8.00. In spite of this, 2 analysts ranked ImmunityBio Inc. stock as a Buy at the end of 2023.