Squarepoint Ops LLC Makes New $6.66 Million Investment in ImmunityBio, Inc. $IBRX

Squarepoint Ops LLC acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 760,993 shares of the company’s stock, valued at approximately $6,662,000. Squarepoint Ops LLC owned 0.07% of ImmunityBio as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. WealthPlan Investment Management LLC acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $27,000. Diversify Advisory Services LLC acquired a new stake in ImmunityBio during the 2nd quarter valued at $27,000. Kovack Advisors Inc. bought a new position in ImmunityBio during the fourth quarter worth $27,000. Empowered Funds LLC bought a new position in ImmunityBio during the fourth quarter worth $28,000. Finally, Markowski Investments acquired a new position in shares of ImmunityBio in the second quarter valued at $29,000. 8.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Barry Simon sold 25,000 shares of the company’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 transaction, the director directly owned 2,802,788 shares in the company, valued at approximately $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the completion of the transaction, the director owned 125,386 shares in the company, valued at $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. 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 90 days, insiders sold 412,410 shares of company stock valued at $3,753,442. 66.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IBRX shares. BTIG Research reissued a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ImmunityBio has an average rating of “Moderate Buy” and an average price target of $14.20.

ImmunityBio Trading Down 4.2%

NASDAQ:IBRX opened at $7.72 on Friday. The stock has a 50 day simple moving average of $7.82 and a 200 day simple moving average of $7.89. The stock has a market cap of $8.18 billion, a P/E ratio of -7.96 and a beta of 0.04. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. As a group, sell-side analysts forecast that ImmunityBio, Inc. will post -0.44 EPS for the current year.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies and other treatments designed to activate the immune system against cancer and infectious diseases. The company’s platform combines biologics, cell therapies, vaccines and other approaches intended to generate durable immune responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.