243,678 Shares in ImmunityBio, Inc. $IBRX Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) in the second quarter, Holdings Channel.com reports. The fund purchased 243,678 shares of the company’s stock, valued at approximately $2,133,000.

Several other large investors have also bought and sold shares of IBRX. BlackRock Inc. grew its stake in shares of ImmunityBio by 29.4% in the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock worth $298,399,000 after acquiring an additional 7,736,819 shares in the last quarter. State Street Corp lifted its position in shares of ImmunityBio by 45.4% during the fourth quarter. State Street Corp now owns 16,455,703 shares of the company’s stock valued at $32,582,000 after purchasing an additional 5,139,890 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ImmunityBio by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after purchasing an additional 5,122,052 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ImmunityBio by 439.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock worth $12,182,000 after purchasing an additional 5,012,001 shares during the last quarter. Finally, SEB Asset Management AB purchased a new position in ImmunityBio during the first quarter worth about $18,770,000. 8.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IBRX shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.20.

ImmunityBio Trading Up 1.0%

ImmunityBio stock opened at $7.95 on Thursday. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43. The business’s 50 day simple moving average is $7.90 and its 200 day simple moving average is $7.86. The company has a market cap of $8.43 billion, a price-to-earnings ratio of -8.20 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX) last released its 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 analyst estimates of $49.70 million. As a group, equities research analysts forecast that ImmunityBio, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at ImmunityBio

In other news, Director Cheryl Cohen sold 131,210 shares of the stock in a transaction 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 owned 125,386 shares in the company, valued at approximately $1,191,167. This represents a 51.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 ImmunityBio stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the sale, the director directly owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. This trade represents a 81.98% decrease in their position. 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. In the last 90 days, insiders sold 412,410 shares of company stock worth $3,753,442. 66.10% of the stock is owned by company insiders.

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.