Courier Capital LLC Increases Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Courier Capital LLC lifted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Courier Capital LLC’s holdings in ImmunityBio were worth $120,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Swiss National Bank increased its position in shares of ImmunityBio by 1.5% during the fourth quarter. Swiss National Bank now owns 274,000 shares of the company’s stock worth $701,000 after acquiring an additional 4,000 shares during the last quarter. ProShare Advisors LLC increased its position in shares of ImmunityBio by 7.7% during the fourth quarter. ProShare Advisors LLC now owns 73,773 shares of the company’s stock worth $189,000 after acquiring an additional 5,261 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of ImmunityBio by 20.4% during the fourth quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company’s stock worth $107,000 after acquiring an additional 7,067 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of ImmunityBio by 29.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 37,006 shares of the company’s stock worth $95,000 after acquiring an additional 8,359 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in ImmunityBio by 40.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company’s stock valued at $74,000 after buying an additional 8,380 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Stock Down 2.9%

Shares of ImmunityBio stock opened at $3.34 on Wednesday. The firm has a market cap of $2.95 billion, a P/E ratio of -3.63 and a beta of 0.14. ImmunityBio, Inc. has a fifty-two week low of $1.83 and a fifty-two week high of $7.63. The business has a 50-day moving average price of $2.60 and a 200 day moving average price of $3.01.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Monday, May 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The business had revenue of $16.52 million during the quarter, compared to the consensus estimate of $17.50 million. As a group, equities research analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. D. Boral Capital reissued a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a report on Tuesday, June 3rd. Piper Sandler raised ImmunityBio from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $4.25 to $5.00 in a report on Tuesday, May 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a report on Wednesday, June 4th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.25.

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.