The Manufacturers Life Insurance Company Has $596,000 Stock Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

The Manufacturers Life Insurance Company boosted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 15.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,367 shares of the company’s stock after acquiring an additional 12,738 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ImmunityBio were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IBRX. Bleakley Financial Group LLC acquired a new position in ImmunityBio during the first quarter valued at approximately $58,000. Lazard Asset Management LLC lifted its position in shares of ImmunityBio by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after purchasing an additional 6,593 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in ImmunityBio in the 1st quarter valued at approximately $85,000. Brookstone Capital Management bought a new stake in shares of ImmunityBio in the first quarter valued at approximately $100,000. Finally, Simplicity Wealth LLC increased its position in ImmunityBio by 46.0% during the second quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock worth $100,000 after acquiring an additional 4,983 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research report on Monday, August 19th.

ImmunityBio Price Performance

IBRX opened at $3.70 on Wednesday. The company has a market capitalization of $2.56 billion, a P/E ratio of -3.39 and a beta of 1.02. The firm’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $5.44. ImmunityBio, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $10.53.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $2.53 million. On average, equities research analysts expect that ImmunityBio, Inc. will post -0.86 EPS for the current fiscal 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.