ImmunityBio, Inc. (NASDAQ:IBRX)’s stock adds 3.3%, but it may be worth investing in

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ImmunityBio, Inc. (NASDAQ:IBRX) price closed higher on Friday, May 28, jumping 3.3% above its previous close.

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A look at the daily price movement shows that the last close reads $16.99, with intraday deals fluctuated between $17.00 and $17.95. The company’s 5Y monthly beta was ticking 2.13 while its P/E ratio in the trailing 12-month period read 0. Taking into account the 52-week price action we note that the stock hit a 52-week high of $45.42 and 52-week low of $5.53. The stock lost -2.12% on its value in the past month.

ImmunityBio, Inc., which has a market valuation of $6.52 Billion. The company stock has a Forward Dividend ratio of 0, while the dividend yield is 0. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking IBRX have forecast the quarterly EPS to grow by -$0.12 per share this quarter, while the same analysts predict the annual EPS to hit -$0.76 for the year 2021 and up to -$0.57 for 2022. In this case, analysts estimate an annual EPS growth of -0.15% for the year and -0.25% for the next year.

On the technical perspective front, indicators give IBRX a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as Hold.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned IBRX a recommendation rating as follows: None rate it as a Hold; 1 advise Buy while none analyst(s) assign an Outperform rating. None analyst(s) have tagged the ImmunityBio, Inc. (IBRX) stock as Underperform, with none recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 0. The overview shows that IBRX’s price is at present 8.14% off the SMA20 and -11.6% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 51.48, with weekly volatility standing at 5.04%. The indicator jumps to 7.47% when calculated based on the past 30 days. ImmunityBio, Inc. (NASDAQ:IBRX)’s beta value is holding at 2.13, while the average true range (ATR) indicator is currently reading 1.18. Considering analysts have assigned the stock a price target range of $25-$25 as the low and high respectively, we find the trailing 12-month average consensus price target to be $25. Based on this estimate, we see that current price is roughly 42.45% off the estimated low and 42.45% off the forecast high. Investors will no doubt be excited to see the share price rise to $25, which is the median consensus price, and at that level IBRX would be -42.45% from current price.

Turning out attention to how the ImmunityBio, Inc. stock has performed in comparison to its peers in the industry, here’s what we find: IBRX’s stock is -3.3% on the day and -160.39% in the past 12 months, while Bristol-Myers Squibb Company (BMY) traded -0.02% in the last session and was positioned -10.05% up on its price 12 months ago. Another comparison is with Amgen Inc (AMGN) whose stock price was up 1.12% in the last trading session , and has flourished -3.59% over the past year. Also, Gilead Sciences Inc (GILD) showed uptrend of 3.3% while its price kept floating at 160.39% over the past year. As for ImmunityBio, Inc., the P/E ratio stands at 0 lower than that of Bristol-Myers Squibb Company’s at 0 and Amgen Inc’s 19.71. Elsewhere in the market, the S&P 500 Index has rallied 0.08% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with -0.19%.

An analysis of the ImmunityBio, Inc. (NASDAQ:IBRX) stock in terms of its daily trading volume indicates that the 3-month average is 1.25 Million. However, this figure increases on the past 10-day timeline to an average of 878.92 Million.

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Current records show that the company has 383.91 Million in outstanding shares. According to data from Thomson Reuters, insiders’ percentage holdings are 82.62% of outstanding shares while the percentage share held by institutions stands at 4.29%. The stats also highlight that short interest as of May 13, 2021, stood at 8Million shares, which puts the short ratio at the time at 6.77. From this we can glean that short interest is 2.08% of company’s current outstanding shares. Notably, we see that shares short in May rose slightly given the previous month’s figure stood at 7.22 Million. But the -31.66% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.