ImmunityBio, Inc. $IBRX Position Trimmed by Clearwater Capital Advisors LLC

Clearwater Capital Advisors LLC cut its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 15.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 717,524 shares of the company’s stock after selling 127,560 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in ImmunityBio were worth $5,503,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in ImmunityBio by 193.4% in the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock worth $134,000 after purchasing an additional 29,297 shares during the period. Creative Planning raised its stake in ImmunityBio by 9.2% during the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after purchasing an additional 5,231 shares during the period. Cetera Investment Advisers raised its stake in ImmunityBio by 56.9% during the 2nd quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock valued at $49,000 after purchasing an additional 6,731 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ImmunityBio by 5.2% in the second quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock valued at $2,829,000 after purchasing an additional 52,782 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of ImmunityBio by 11.8% in the second quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock valued at $542,000 after purchasing an additional 21,715 shares in the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. D. Boral Capital reiterated a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. BTIG Research reissued a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research note on Thursday, May 21st. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

Insider Buying and Selling

In related news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. This trade represents a 81.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total value 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 435,443 shares of company stock worth $3,918,819. Corporate insiders own 66.10% of the company’s stock.

ImmunityBio Stock Down 6.9%

IBRX stock opened at $7.51 on Thursday. The company has a 50 day moving average of $7.80 and a two-hundred day moving average of $7.32. The company has a market cap of $7.87 billion, a price-to-earnings ratio of -8.84 and a beta of 0.01. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The firm had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.07 million. On average, research analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current year.

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.