Vanguard Group Inc. Boosts Stock Position in ImmunityBio, Inc. $IBRX

Vanguard Group Inc. boosted its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 26.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,655,205 shares of the company’s stock after acquiring an additional 5,837,898 shares during the quarter. Vanguard Group Inc. owned about 2.81% of ImmunityBio worth $68,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IBRX. Armistice Capital LLC purchased a new stake in shares of ImmunityBio during the second quarter worth approximately $20,497,000. AlphaCore Capital LLC acquired a new stake in shares of ImmunityBio during the second quarter worth $7,854,000. Geode Capital Management LLC grew its position in ImmunityBio by 34.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock valued at $15,254,000 after buying an additional 1,487,849 shares during the last quarter. First Trust Advisors LP acquired a new position in ImmunityBio in the 2nd quarter valued at $1,448,000. Finally, Kercheville Advisors LLC increased its stake in ImmunityBio by 416.5% in the 3rd quarter. Kercheville Advisors LLC now owns 519,100 shares of the company’s stock valued at $1,277,000 after buying an additional 418,600 shares during the period. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBRX has been the subject of a number of analyst reports. D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a research report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. Piper Sandler reiterated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Finally, BTIG Research raised their price objective on shares of ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

ImmunityBio Stock Performance

ImmunityBio stock opened at $8.67 on Friday. ImmunityBio, Inc. has a one year low of $1.83 and a one year high of $12.43. The business has a fifty day moving average of $6.00 and a two-hundred day moving average of $3.61. The company has a market cap of $8.91 billion, a P/E ratio of -22.82 and a beta of -0.03.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $38.29 million for the quarter. Sell-side analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Insider Transactions at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry J. Simon sold 75,000 shares of ImmunityBio stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total transaction of $900,750.00. Following the sale, the director owned 2,850,821 shares of the company’s stock, valued at approximately $34,238,360.21. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 501,967 shares of company stock worth $4,466,412. 69.48% of the stock is owned by insiders.

ImmunityBio Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.