Understanding the Tailwind Behind ImmunityBio Shares.

Shares of ImmunityBio rose to $8.72 during today's afternoon trading session. Despite the 7.5% change, the Mid-Cap Biotechnology company still trades 16.33% above its average analyst target price of $7.5. So there may be further downside for the Biotechnology stock. ImmunityBio has target prices ranging from $6.0 to $9.0 per share, and its average rating is buy.

ImmunityBio has an elevated short interest of 38.9%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 5.19. Since 77.59% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. ImmunityBio's rate of institutional ownership stands at 8.8%, which is lower than average and further confirms the lack of market confidence in the stock. As a result, Market Inference considers ImmunityBio to be the subject of negative market sentiment.

Institutions Invested in ImmunityBio

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 2% 13,539,590 $118,132,927
2024-03-31 Blackrock Inc. 2% 10,375,311 $90,524,592
2023-12-31 State Street Corporation 1% 9,470,909 $82,633,684
2023-12-31 Geode Capital Management, LLC 0% 3,379,464 $29,485,824
2024-03-31 Credit Suisse Ag/ 0% 1,548,826 $13,513,507
2024-03-31 JP Morgan Chase & Company 0% 1,435,746 $12,526,884
2023-12-31 Northern Trust Corporation 0% 1,357,059 $11,840,340
2023-12-31 Goldman Sachs Group Inc 0% 1,278,638 $11,156,117
2024-03-31 Charles Schwab Investment Management, Inc. 0% 1,171,212 $10,218,825
2024-03-31 Citigroup Inc. 0% 1,128,446 $9,845,691
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.