VIRGINIA RETIREMENT SYSTEMS ET Al Invests $652,000 in ImmunityBio, Inc. $IBRX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in ImmunityBio, Inc. (NASDAQ:IBRX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,500 shares of the company’s stock, valued at approximately $652,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in ImmunityBio by 29.4% during the second 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 in the last quarter. California State Teachers Retirement System boosted its stake in ImmunityBio by 830.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,595,285 shares of the company’s stock valued at $31,477,000 after purchasing an additional 3,208,951 shares in the last quarter. SEB Asset Management AB acquired a new stake in shares of ImmunityBio in the first quarter valued at $18,770,000. Bank of America Corp DE bought a new position in ImmunityBio during the second quarter valued at about $19,125,000. Finally, Private Advisor Group LLC boosted its stake in ImmunityBio by 923.5% during the first quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock valued at $12,644,000 after buying an additional 1,487,482 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction on Wednesday, July 1st. The shares were 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 owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. The trade was a 81.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of ImmunityBio stock in a transaction 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 completion of the sale, the director directly owned 2,802,788 shares of the company’s stock, valued at approximately $22,085,969.44. The trade was a 0.88% 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. Over the last quarter, insiders have sold 412,410 shares of company stock worth $3,753,442. Insiders own 66.10% of the company’s stock.

ImmunityBio Trading Up 5.8%

Shares of NASDAQ IBRX opened at $8.37 on Tuesday. The business has a 50-day moving average price of $7.78 and a two-hundred day moving average price of $7.86. ImmunityBio, Inc. has a one year low of $1.95 and a one year high of $12.43. The firm has a market capitalization of $8.87 billion, a PE ratio of -8.63 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million for the quarter, compared to analysts’ expectations of $49.70 million. Research analysts anticipate that ImmunityBio, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBRX. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Friday, July 10th. BTIG Research reiterated a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies and other treatments designed to activate the immune system against cancer and infectious diseases. The company’s platform combines biologics, cell therapies, vaccines and other approaches intended to generate durable immune responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.