ImmunityBio, Inc. $IBRX Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 26.8% during the third quarter, Holdings Channel reports. The firm owned 27,655,205 shares of the company’s stock after buying an additional 5,837,898 shares during the quarter. Vanguard Group Inc.’s holdings in ImmunityBio were worth $68,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Armistice Capital LLC purchased a new position in shares of ImmunityBio in the second quarter valued at $20,497,000. Geode Capital Management LLC raised its stake in shares of ImmunityBio by 34.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock worth $15,254,000 after buying an additional 1,487,849 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth about $7,854,000. JPMorgan Chase & Co. boosted its position in shares of ImmunityBio by 5.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock worth $2,829,000 after buying an additional 52,782 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in ImmunityBio in the 2nd quarter valued at about $1,448,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

Insider Activity at ImmunityBio

In related news, Director Christobel Selecky sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barry J. Simon sold 165,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the sale, the director owned 2,925,821 shares in the company, valued at approximately $29,989,665.25. This trade represents a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 501,967 shares of company stock worth $4,466,412 in the last three months. Insiders own 69.48% of the company’s stock.

ImmunityBio Trading Down 3.2%

ImmunityBio stock opened at $8.67 on Friday. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $3.61. ImmunityBio, Inc. has a 52 week low of $1.83 and a 52 week high of $12.43. The stock has a market cap of $8.91 billion, a PE ratio of -22.82 and a beta of -0.03.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on IBRX. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a research report on Monday, February 23rd. HC Wainwright upped their price target on shares of ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, February 23rd. BTIG Research increased their price target 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. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, ImmunityBio has an average rating of “Moderate Buy” and an average price target of $13.60.

About ImmunityBio

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.