ImmunityBio Inc (NASDAQ: IBRX)’s Share Price Jumped 8.35%, What’s Next? Heres Is A Hint: Don’t Be Too Excited

ImmunityBio Inc (NASDAQ:IBRX) shares, rose in value, with the stock price up by 8.35% to the previous day’s close as strong demand from buyers drove the stock to $5.71.

Actively observing the price movement in the last trading, the stock closed the session at $5.27. The value of beta (5-year monthly) was 0.00. Referring to stock’s 52-week performance, its high was $6.93, and the low was $1.25. On the whole, IBRX has fluctuated by 12.62% over the past month.

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With the market capitalization of ImmunityBio Inc currently standing at about $3.85 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 12, 2024 – Mar 16, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.16, which is expected to increase to -$0.17 for fiscal year -$0.68 and then to about -$0.45 by fiscal year 2025. Data indicates that the EPS growth is expected to be 40.90% in 2025, while the next year’s EPS growth is forecast to be 33.80%.

Analysts have estimated the company’s revenue for the quarter at $20k, with a low estimate of $20k and a high estimate of $20k. According to the average forecast, sales growth in current quarter could jump down -94.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $9.68 million, representing an increase of 1,456.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IBRX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IBRX currently trading nearly 7.11% and 22.94% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.79, while the 7-day volatility ratio is showing 12.77% which for the 30-day chart, stands at 10.22%. Furthermore, ImmunityBio Inc (IBRX)’s beta value is 1.17, and its average true range (ATR) is 0.56.

A comparison of ImmunityBio Inc (IBRX) with its peers suggests the former has fared considerably weaker in the market. IBRX showed an intraday change of 8.35% in last session, and over the past year, it grew by 213.74%%.

Data on historical trading for ImmunityBio Inc (NASDAQ:IBRX) indicates that the trading volumes over the past 10 days have averaged 4.81 million and over the past 3 months, they’ve averaged 4.05 million. According to company’s latest data on outstanding shares, there are 670.87 million shares outstanding.

Nearly 80.43% of ImmunityBio Inc’s shares belong to company insiders and institutional investors own 8.49% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 53.25 million shares as on Mar 15, 2024, resulting in a short ratio of 11.17. According to the data, the short interest in ImmunityBio Inc (IBRX) stood at 7.90% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 47.14 million. The stock has risen by 13.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IBRX stock heading into the next quarter.