Franklin Resources Inc. Decreases Stock Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Franklin Resources Inc. trimmed its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,442 shares of the company’s stock after selling 4,739 shares during the quarter. Franklin Resources Inc.’s holdings in ImmunityBio were worth $723,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock worth $4,709,000 after acquiring an additional 29,665 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ImmunityBio by 37.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after acquiring an additional 170,742 shares in the last quarter. Clearwater Capital Advisors LLC raised its holdings in ImmunityBio by 8.9% in the 2nd quarter. Clearwater Capital Advisors LLC now owns 482,549 shares of the company’s stock valued at $3,050,000 after acquiring an additional 39,250 shares during the last quarter. Finally, Barclays PLC lifted its stake in ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after purchasing an additional 202,248 shares in the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBRX. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. D. Boral Capital restated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a report on Friday, December 20th.

ImmunityBio Price Performance

Shares of IBRX stock opened at $2.78 on Monday. The company has a market capitalization of $1.94 billion, a PE ratio of -3.02 and a beta of 0.86. The firm’s 50-day moving average is $4.40 and its two-hundred day moving average is $4.61. ImmunityBio, Inc. has a 12 month low of $2.50 and a 12 month high of $10.53.

About ImmunityBio

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.