Piper Sandler slashes price target on ImmunityBio Inc [IBRX] – find out why.

ImmunityBio Inc [NASDAQ: IBRX] loss -7.95% on the last trading session, reaching $3.36 price per share at the time.

If compared to the average trading volume of 6.37M shares, IBRX reached a trading volume of 4624083 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here is what top equities market gurus are saying about ImmunityBio Inc [IBRX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IBRX shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IBRX stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for ImmunityBio Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 12, 2023.

The Average True Range (ATR) for ImmunityBio Inc is set at 0.38, with the Price to Sales ratio for IBRX stock in the period of the last 12 months amounting to 4006.26.

Trading performance analysis for IBRX stock

ImmunityBio Inc [IBRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.88. With this latest performance, IBRX shares dropped by -25.83% in over the last four-week period, additionally plugging by 26.79% over the last 6 months – not to mention a drop of -27.11% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IBRX stock in for the last two-week period is set at 35.59, with the RSI for the last a single of trading hit 26.16, and the three-weeks RSI is set at 41.65 for ImmunityBio Inc [IBRX]. The present Moving Average for the last 50 days of trading for this stock 4.03, while it was recorded at 3.58 for the last single week of trading, and 2.78 for the last 200 days.

ImmunityBio Inc [IBRX]: A deeper dive into fundamental analysis

ImmunityBio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.38 and a Current Ratio set at 2.38.

ImmunityBio Inc [IBRX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IBRX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ImmunityBio Inc go to -1.70%.

An analysis of Institutional ownership at ImmunityBio Inc [IBRX]

The top three institutional holders of IBRX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IBRX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IBRX stock with ownership which is approximately 5.8325%.