Jupiter Topco LLC Makes New Investment in ImmunityBio, Inc. $IBRX

Jupiter Topco LLC bought a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 157,439 shares of the company’s stock, valued at approximately $1,378,000.

Several other hedge funds also recently modified their holdings of IBRX. BlackRock Inc. raised its holdings in ImmunityBio by 29.4% during the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock worth $298,399,000 after purchasing an additional 7,736,819 shares during the last quarter. State Street Corp increased its position in ImmunityBio by 45.4% during the 4th quarter. State Street Corp now owns 16,455,703 shares of the company’s stock worth $32,582,000 after buying an additional 5,139,890 shares during the period. Vanguard Group Inc. raised its holdings in shares of ImmunityBio by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock worth $64,899,000 after buying an additional 5,122,052 shares in the last quarter. Goldman Sachs Group Inc. raised its position in ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock valued at $12,182,000 after purchasing an additional 5,012,001 shares during the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of ImmunityBio in the first quarter valued at about $18,770,000. 8.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IBRX shares. BTIG Research reiterated a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reissued 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 assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.20.

Insider Activity

In other ImmunityBio 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 sale, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. The trade was a 81.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Simon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the sale, the director owned 2,802,788 shares in the company, valued at $22,085,969.44. This represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 412,410 shares of company stock valued at $3,753,442. Company insiders own 66.10% of the company’s stock.

ImmunityBio Price Performance

Shares of IBRX stock opened at $8.08 on Friday. The firm has a market cap of $8.56 billion, a PE ratio of -8.33 and a beta of 0.04. The company has a 50-day moving average of $7.90 and a two-hundred day moving average of $7.88. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released 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 company had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. Sell-side analysts anticipate that ImmunityBio, Inc. will post -0.44 EPS 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.