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ImmunityBio Inc (NASDAQ: IBRX) : Investors Should Not Dump IBRX Stock In 2024

In the last trading session, 3.31 million ImmunityBio Inc (NASDAQ:IBRX) shares changed hands as the company’s beta touched 1.07. With the company’s per share price at $4.58 changed hands at $0.27 or 6.26% during last session, the market valuation stood at $3.06B. IBRX’s last price was a discount, traded about -51.31% off its 52-week high of $6.93. The share price had its 52-week low at $1.21, which suggests the last value was 73.58% up since then. When we look at ImmunityBio Inc’s average trading volume, we note the 10-day average is 3.62 million shares, with the 3-month average coming to 0.78.

ImmunityBio Inc (NASDAQ:IBRX) trade information

Instantly IBRX was in green as seen at the end of in last trading. With action 10.63%, the performance over the past five days has been green. The jump to weekly highs of 4.63 added 6.26% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.76%, with the 5-day performance at 10.63% in the green. However, in the 30-day time frame, ImmunityBio Inc (NASDAQ:IBRX) is 9.31% up. Looking at the short shares, we see there were 43.93 million shares sold at short interest cover period of 13.47 days.

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ImmunityBio Inc (IBRX) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for ImmunityBio Inc will rise 35.70%, while the growth in revenue is estimated to hit 40.70% for the next quarter. Year-over-year growth is forecast to reach 112.50% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $20k. 1 analysts are of the opinion that ImmunityBio Inc’s revenue for the quarter ending Mar 2024 will be $20k. The company’s revenue for the corresponding quarters a year ago was $73k and $360k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -72.60%. The estimates for the next quarter sales put growth at -94.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 2.79%. The 2024 estimates are for ImmunityBio Inc earnings to increase by 10.58%, but the outlook for the next 5-year period is at -1.70% per year.

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