ImmunityBio Inc (NASDAQ:IBRX) price on Tuesday, December 24, fall -1.50% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.63.
A look at the stock’s price movement, the close in the last trading session was $2.67, moving within a range at $2.6 and $2.75. The beta value (5-Year monthly) was -0.429. Turning to its 52-week performance, $10.53 and $2.50 were the 52-week high and 52-week low respectively. Overall, IBRX moved -48.43% over the past month.
ImmunityBio Inc’s market cap currently stands at around $1.89 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 9.07M for the company’s revenue for the quarter, with a low and high estimate of 9.07M and 9.07M respectively. The average forecast suggests up to a 6,425.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 23.92M, representing a 3,745.87% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IBRX is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 0 recommend IBRX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
IBRX’s current price about -31.41% and -40.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.81, while 7-day volatility ratio is 5.97% and 7.41% in the 30-day chart. Further, ImmunityBio Inc (IBRX) has a beta value of 0.69, and an average true range (ATR) of 0.35. Analysts have given the company’s stock an average 52-week price target of $8, forecast between a low of $8 and high of $8. Looking at the price targets, the low is -204.18% off current price level while to achieve the yearly target high, price needs to move -204.18%. Nonetheless, investors will most likely welcome a -204.18% jump to $8 which is the analysts’ median price.
If we refocus on ImmunityBio Inc (NASDAQ:IBRX), historical trading data shows that trading volumes averaged 9.13 over the past 10 days and 6.15 million over the past 3 months. The company’s latest data on shares outstanding shows there are 696.83 million shares.
The 93.88% of ImmunityBio Inc’s shares are in the hands of company insiders while institutional holders own 9.44% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 49.78 million on 2024-11-29, giving us a short ratio of 9.34. The data shows that as of 2024-11-29 short interest in ImmunityBio Inc (IBRX) stood at 3080.0 of shares outstanding, with shares short falling to 52.75 million registered in 2024-10-31. Current price change has pushed the stock -47.61% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IBRX stock continues to rise going into the next quarter.
