ImmunityBio (NASDAQ:IBRX) Stock Price Down 10.2% - What's Next?

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ImmunityBio (NASDAQ:IBRX) shares dropped 10.2% during mid-day trading on Wednesday, closing at $8.98, despite a previous closing price of $10.00 and an impressive market capitalization of $9.23 billion. The stock traded with high volume, seeing 32.8 million shares change hands, while analysts maintain a “Moderate Buy” rating with an average target of $13.60, yet insider sales amount to $4.47 million over the past 90 days. The company recently reported an EPS beat at -$0.06 against estimates of -$0.08, with revenues of $38.3 million, but anticipates a full-year EPS of -0.92.

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