Shares Of ImmunityBio Inc (NASDAQ: IBRX) Could Show A Loss Of -51.52%

IPW

In today’s recent session, 0.55 million shares of the ImmunityBio Inc (NASDAQ:IBRX) have been traded, and its beta is 1.17. Most recently the company’s share price was $5.28, and it changed around -$0.04 or -0.66% from the last close, which brings the market valuation of the company to $3.56B. IBRX at last check was trading at a discount to its 52-week high of $6.93, offering almost -31.25% off that amount. The share price’s 52-week low was $1.25, which indicates that the recent value has risen by an impressive 76.33% since then. We note from ImmunityBio Inc’s average daily trading volume that its 10-day average is 4.81 million shares, with the 3-month average coming to 4.05 million.

ImmunityBio Inc (NASDAQ:IBRX) trade information

Instantly IBRX has been showing red trend so far today with a performance of -0.66% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 5.28% year-to-date, but still down -2.85% over the last five days. On the other hand, ImmunityBio Inc (NASDAQ:IBRX) is 12.21% up in the 30-day period. We can see from the shorts that 53.25 million shares have been sold at a short interest cover period of 11.17 day(s).

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The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 34.0% from its current value. Analyst projections state that IBRX is forecast to be at a low of $8 and a high of $8.

ImmunityBio Inc (IBRX) estimates and forecasts

ImmunityBio Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 212.72 percent over the past six months and at a 31.31% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 40.70% in revenue this quarter, and will report an increase of 46.90% in the next quarter. The year-over-year growth rate is expected to be 1,456.30%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $20k in revenue for the current quarter. 1 analysts expect ImmunityBio Inc to make $520k in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $360k and $41k respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -94.40%. Forecasts for the next quarter put sales growth at 1,168.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 1.17%. ImmunityBio Inc earnings are expected to increase by 40.87% in 2024, but the outlook is negative -1.70% per year for the next five years.

IBRX Dividends

ImmunityBio Inc’s next quarterly earnings report is expected to be released around May 09 and May 13.

ImmunityBio Inc (NASDAQ:IBRX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 79.62% of ImmunityBio Inc shares, and 8.85% of them are in the hands of institutional investors. The stock currently has a share float of 43.45%. ImmunityBio Inc stock is held by 214 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 1.98% of the shares, which is about 13.33 million shares worth $70.11 million.

Blackrock Inc., with 1.59% or 10.71 million shares worth $56.34 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 6.46 million shares worth $33.99 million, making up 0.96% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.26 million shares worth around $22.38 million, which represents about 0.63% of the total shares outstanding.