ImmunityBio, Inc. $IBRX Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 39.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 487,571 shares of the company’s stock after acquiring an additional 138,049 shares during the quarter. Deutsche Bank AG’s holdings in ImmunityBio were worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Western Wealth Management LLC purchased a new position in ImmunityBio in the first quarter valued at $44,000. Geneos Wealth Management Inc. increased its holdings in ImmunityBio by 579.3% during the 1st 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 raised its position in ImmunityBio by 67.1% in 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. Fifth Third Bancorp raised its position in ImmunityBio by 3,372.2% in the 2nd quarter. Fifth Third Bancorp now owns 7,500 shares of the company’s stock valued at $66,000 after purchasing an additional 7,284 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in shares of ImmunityBio in the 1st quarter valued at about $77,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ImmunityBio

In related news, Director Barry J. Simon sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total value of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the stock in a transaction that occurred on 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 represents a 51.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 435,443 shares of company stock valued at $3,918,819 over the last three months. 66.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

ImmunityBio Price Performance

ImmunityBio stock opened at $8.19 on Wednesday. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43. The stock has a market cap of $8.68 billion, a PE ratio of -8.44 and a beta of 0.03. The stock’s fifty day moving average is $7.82 and its two-hundred day moving average is $7.79.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share (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 the consensus estimate of $49.70 million. On average, research analysts expect that ImmunityBio, Inc. will post -0.44 earnings per share for the current fiscal year.

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.