Intech Investment Management LLC Grows Holdings in ImmunityBio, Inc. $IBRX

Intech Investment Management LLC grew its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 25.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,919 shares of the company’s stock after purchasing an additional 33,960 shares during the period. Intech Investment Management LLC’s holdings in ImmunityBio were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IBRX. Cetera Investment Advisers boosted its position in ImmunityBio by 56.9% during the second quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock worth $49,000 after acquiring an additional 6,731 shares during the last quarter. Creative Planning raised its holdings in ImmunityBio by 9.2% in the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after acquiring an additional 5,231 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of ImmunityBio by 48.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 53,754 shares of the company’s stock worth $142,000 after purchasing an additional 17,443 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ImmunityBio by 34.7% during the second quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock worth $15,254,000 after purchasing an additional 1,487,849 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of ImmunityBio by 1,104.4% in the second quarter. PNC Financial Services Group Inc. now owns 13,815 shares of the company’s stock valued at $36,000 after purchasing an additional 12,668 shares during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBRX. D. Boral Capital reissued a “buy” rating and issued a $24.00 price target on shares of ImmunityBio in a research note on Thursday, November 13th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, November 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.75.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $2.39 on Friday. ImmunityBio, Inc. has a one year low of $1.83 and a one year high of $5.16. The company’s 50 day moving average price is $2.34 and its 200 day moving average price is $2.55. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -5.82 and a beta of 0.29.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $31.88 million. Sell-side analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

ImmunityBio 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.