Royal Bank of Canada Has $11.40 Million Holdings in ImmunityBio, Inc. $IBRX

Royal Bank of Canada boosted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 1,731.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,486,049 shares of the company’s stock after purchasing an additional 1,404,922 shares during the period. Royal Bank of Canada’s holdings in ImmunityBio were worth $11,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in shares of ImmunityBio by 579.3% during the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock worth $44,000 after purchasing an additional 4,907 shares during the period. Archer Investment Corp lifted its holdings in shares of ImmunityBio by 67.1% during the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after purchasing an additional 2,358 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of ImmunityBio in the 1st quarter valued at approximately $77,000. Aaron Wealth Advisors LLC acquired a new position in shares of ImmunityBio in the 1st quarter valued at approximately $78,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in ImmunityBio during the 1st quarter worth approximately $73,000. 8.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Cheryl Cohen sold 131,210 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 125,386 shares of the company’s stock, valued at approximately $1,191,167. This represents a 51.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the transaction, the director owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. This represents a 81.98% decrease in their ownership of the stock. 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 quarter, insiders have sold 435,443 shares of company stock worth $3,918,819. Corporate insiders own 66.10% of the company’s stock.

ImmunityBio Trading Up 4.4%

ImmunityBio stock opened at $7.64 on Friday. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43. The company has a fifty day simple moving average of $7.66 and a 200 day simple moving average of $7.65. The company has a market cap of $8.10 billion, a P/E ratio of -7.88 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million for the quarter, compared to analysts’ expectations of $49.70 million. On average, equities research analysts forecast that ImmunityBio, Inc. will post -0.44 EPS for the current year.

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.