Cherry Creek Investment Advisors Inc. Increases Stock Holdings in ImmunityBio, Inc. $IBRX

Cherry Creek Investment Advisors Inc. grew its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 435.5% during the first quarter, Holdings Channel reports. The firm owned 74,581 shares of the company’s stock after purchasing an additional 60,653 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in ImmunityBio were worth $572,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Diversify Advisory Services LLC acquired a new position in shares of ImmunityBio in the 2nd quarter valued at $27,000. Swiss Life Asset Management Ltd purchased a new position in shares of ImmunityBio in the 3rd quarter valued at $27,000. WealthPlan Investment Management LLC acquired a new stake in ImmunityBio during the 4th quarter worth $27,000. Kovack Advisors Inc. acquired a new stake in ImmunityBio during the 4th quarter worth $27,000. Finally, Opal Wealth Advisors LLC purchased a new stake in ImmunityBio in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IBRX. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. BTIG Research reissued a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st. Finally, D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of ImmunityBio in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

ImmunityBio Price Performance

Shares of NASDAQ:IBRX opened at $8.87 on Friday. The stock has a market cap of $9.29 billion, a P/E ratio of -10.44 and a beta of 0.01. The firm has a fifty day moving average price of $7.81 and a 200 day moving average price of $6.96. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. Sell-side analysts expect that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Insider Transactions at ImmunityBio

In related news, Director Cheryl Cohen sold 131,210 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the transaction, the director owned 125,386 shares of the company’s stock, valued at $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total value of $197,000.00. Following the completion of the transaction, the director owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 435,443 shares of company stock worth $3,918,819. Company insiders own 66.10% of the company’s stock.

ImmunityBio Company 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.