Wealth Effects LLC Grows Stock Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Wealth Effects LLC increased its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 33.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,500 shares of the company’s stock after buying an additional 22,000 shares during the quarter. Wealth Effects LLC’s holdings in ImmunityBio were worth $553,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ImmunityBio by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock worth $72,708,000 after acquiring an additional 211,065 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ImmunityBio by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,142,925 shares of the company’s stock valued at $5,737,000 after purchasing an additional 92,991 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in ImmunityBio by 380.8% during the first quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock valued at $5,079,000 after purchasing an additional 749,041 shares during the period. Rafferty Asset Management LLC purchased a new stake in ImmunityBio in the fourth quarter worth about $3,714,000. Finally, Bank of New York Mellon Corp raised its stake in shares of ImmunityBio by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after buying an additional 170,742 shares during the period. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Trading Down 0.8 %

Shares of IBRX traded down $0.03 during trading hours on Wednesday, reaching $3.67. 248,227 shares of the stock traded hands, compared to its average volume of 4,796,075. ImmunityBio, Inc. has a 52-week low of $1.25 and a 52-week high of $10.53. The company has a market cap of $2.54 billion, a P/E ratio of -3.39 and a beta of 1.07. The company’s 50-day moving average price is $5.17 and its two-hundred day moving average price is $5.77.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their target price on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a report on Monday, August 19th.

ImmunityBio Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.