Wealth Effects LLC Boosts Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Wealth Effects LLC increased its stake in ImmunityBio, Inc. (NASDAQ:IBRX) by 33.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,500 shares of the company’s stock after buying an additional 24,800 shares during the period. Wealth Effects LLC’s holdings in ImmunityBio were worth $296,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IBRX. New York State Common Retirement Fund grew its holdings in ImmunityBio by 62.8% during the 4th quarter. New York State Common Retirement Fund now owns 32,418 shares of the company’s stock worth $83,000 after acquiring an additional 12,500 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in ImmunityBio by 71.2% during the 4th quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company’s stock worth $236,000 after acquiring an additional 38,400 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in ImmunityBio during the 4th quarter worth about $41,000. Maia Wealth LLC bought a new position in ImmunityBio during the 4th quarter worth about $37,000. Finally, SBI Securities Co. Ltd. bought a new position in ImmunityBio during the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IBRX shares. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a report on Wednesday, June 4th. D. Boral Capital reiterated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Tuesday, June 3rd. Finally, Piper Sandler upgraded shares of ImmunityBio from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $4.25 to $5.00 in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ImmunityBio currently has an average rating of “Buy” and an average price target of $12.25.

ImmunityBio Stock Performance

NASDAQ:IBRX opened at $2.76 on Thursday. ImmunityBio, Inc. has a fifty-two week low of $1.83 and a fifty-two week high of $7.48. The stock has a market capitalization of $2.44 billion, a P/E ratio of -4.76 and a beta of 0.14. The company’s 50-day simple moving average is $2.67 and its 200-day simple moving average is $2.87.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The firm had revenue of $16.52 million for the quarter, compared to analyst estimates of $17.50 million. On average, research analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current year.

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.