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Why ImmunityBio Inc. (NASDAQ: IBRX) Stock Might Be A Good Investment

ImmunityBio Inc. (NASDAQ:IBRX) traded at $4.60 at close of the session on Monday, 01/23/23, made a downward move of -0.22% on its previous day’s price.

Looking at the stock we see that its previous close was $4.61 with the day’s price range being $4.21 – $4.75. In terms of its 52-week price range, IBRX has a high of $7.85 and a low of $2.60. The company’s stock has lost about -20.55% over that past 30 days.

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ImmunityBio Inc. has a market cap of $1.81 billion. Estimates by analysts give the company expected earnings per share (EPS) of -$0.23, with the EPS growth for the year raised at -$0.86 for 2022 and -$0.87 for next year. These figures represent 3.40% and -1.20% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $20k, with a low of $20k and a high of $20k. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $250k, or -73.20% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the IBRX stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 2 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the ImmunityBio Inc. (IBRX) stock as a Hold, while 2 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -3.96% off its SMA20 and -14.38% from its 50-day simple moving average. The RSI (14) is pointing at 41.72 while the volatility over the past week is 7.53% and jumps to 8.15% over the past one month. The beta value is 1.48, while the average true range (ATR) is currently pointing at 0.39. The average price target for the stock over the next 12 months is $9.00, with the estimates having a low of $8.00 and a high of $10.00. These price ends are -73.91% and -117.39% off the current price level respectively, although investors could be excited at the prospect of a -95.65% if the IBRX share price touches on the median price of $9.00.

Coming back to ImmunityBio Inc. (NASDAQ:IBRX), we note that the average 3-month trading volume was 1.60 million, while that of the preceding 10-day period stands at 1.5 million. Current shares outstanding are 400.06 million.

The insiders hold 79.16% of the company’s shares while institutions hold 10.30%. The data shows that short shares as of Oct 13, 2022, stood at 23.49 million at a short ratio of 10.15. This represents a 5.87% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 21.77 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -9.27% down in year-to-date price movement.

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