China Universal Asset Management Co. Ltd. Increases Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

China Universal Asset Management Co. Ltd. boosted its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 64.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 133,966 shares of the company’s stock after purchasing an additional 52,716 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in ImmunityBio were worth $498,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Brookstone Capital Management acquired a new position in shares of ImmunityBio during the 1st quarter valued at about $100,000. Mirae Asset Global Investments Co. Ltd. raised its stake in ImmunityBio by 41.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,411 shares of the company’s stock worth $319,000 after purchasing an additional 17,549 shares during the period. ProShare Advisors LLC boosted its holdings in ImmunityBio by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 70,613 shares of the company’s stock valued at $379,000 after purchasing an additional 6,004 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of ImmunityBio in the 1st quarter valued at approximately $58,000. Finally, Sheets Smith Wealth Management increased its holdings in shares of ImmunityBio by 380.8% during the 1st quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock worth $5,079,000 after buying an additional 749,041 shares during the last quarter. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Price Performance

Shares of IBRX opened at $5.64 on Thursday. The firm has a 50-day simple moving average of $3.82 and a two-hundred day simple moving average of $5.34. The stock has a market cap of $3.93 billion, a PE ratio of -5.81 and a beta of 1.02. ImmunityBio, Inc. has a 1-year low of $2.66 and a 1-year high of $10.53.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Monday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $2.53 million. As a group, sell-side analysts expect that ImmunityBio, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IBRX has been the topic of a number of recent analyst reports. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. Piper Sandler decreased their price target on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.