SEB Asset Management AB purchased a new stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX – Free Report) in the first quarter, Holdings Channel.com reports. The firm purchased 2,447,150 shares of the company’s stock, valued at approximately $18,770,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IBRX. MOR Wealth Management LLC bought a new position in ImmunityBio in the 4th quarter valued at $494,000. Winning Points Advisors LLC bought a new stake in ImmunityBio in the fourth quarter worth about $1,430,000. Vanguard Group Inc. increased its position in ImmunityBio by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock worth $64,899,000 after buying an additional 5,122,052 shares during the last quarter. UBS Group AG increased its position in ImmunityBio by 18.7% in the fourth quarter. UBS Group AG now owns 1,995,607 shares of the company’s stock worth $3,951,000 after buying an additional 315,025 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of ImmunityBio by 2,365.7% in the first quarter. Pictet Asset Management Holding SA now owns 830,137 shares of the company’s stock valued at $6,367,000 after buying an additional 796,470 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on IBRX. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of ImmunityBio in a research report on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. Finally, BTIG Research reissued a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.
Insider Activity
In other ImmunityBio news, Director Christobel Selecky sold 159,478 shares of the firm’s 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 sale, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. This trade represents a 81.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the transaction, the director directly owned 125,386 shares of the company’s stock, valued at approximately $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 435,443 shares of company stock valued at $3,918,819. Insiders own 66.10% of the company’s stock.
ImmunityBio Price Performance
Shares of ImmunityBio stock opened at $7.68 on Monday. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The company has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $7.20. The firm has a market cap of $8.04 billion, a PE ratio of -9.04 and a beta of 0.01.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.07 million. As a group, research analysts anticipate that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.
ImmunityBio Profile
ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.
Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.
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