Clearwater Capital Advisors LLC Increases Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Clearwater Capital Advisors LLC boosted its position in ImmunityBio, Inc. (NASDAQ:IBRX) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 443,299 shares of the company’s stock after buying an additional 48,700 shares during the period. Clearwater Capital Advisors LLC’s holdings in ImmunityBio were worth $2,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBRX. Amalgamated Bank grew its stake in ImmunityBio by 21.9% in the 4th quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock valued at $89,000 after acquiring an additional 3,186 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of ImmunityBio by 25.8% in the fourth quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock worth $89,000 after acquiring an additional 3,613 shares during the last quarter. Wealth Effects LLC grew its stake in shares of ImmunityBio by 11.2% during the 4th quarter. Wealth Effects LLC now owns 59,500 shares of the company’s stock valued at $299,000 after buying an additional 6,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ImmunityBio by 46.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,105 shares of the company’s stock worth $141,000 after acquiring an additional 8,932 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in ImmunityBio during the fourth quarter worth approximately $53,000. 8.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on shares of ImmunityBio from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, April 29th.

ImmunityBio Price Performance

Shares of NASDAQ IBRX traded up $0.15 during mid-day trading on Thursday, hitting $8.07. The company had a trading volume of 3,034,524 shares, compared to its average volume of 6,065,369. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -6.83 and a beta of 1.16. ImmunityBio, Inc. has a 12 month low of $1.25 and a 12 month high of $10.53. The firm’s 50 day simple moving average is $5.88 and its two-hundred day simple moving average is $4.61.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.03 million. Equities analysts forecast that ImmunityBio, Inc. will post -0.76 earnings per share for the current year.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.