Private Advisor Group LLC Cuts Stock Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Private Advisor Group LLC reduced its position in ImmunityBio, Inc. (NASDAQ:IBRX) by 75.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,450 shares of the company’s stock after selling 41,317 shares during the quarter. Private Advisor Group LLC’s holdings in ImmunityBio were worth $34,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IBRX. Stephens Inc. AR purchased a new stake in ImmunityBio during the 4th quarter valued at about $26,000. Captrust Financial Advisors bought a new position in shares of ImmunityBio in the 3rd quarter worth approximately $41,000. Mutual Advisors LLC bought a new position in shares of ImmunityBio in the 4th quarter worth approximately $41,000. Virtu Financial LLC bought a new position in ImmunityBio during the 3rd quarter valued at approximately $51,000. Finally, New York State Common Retirement Fund increased its position 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 valued at $83,000 after buying an additional 12,500 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Trading Up 0.3 %

Shares of IBRX stock opened at $3.00 on Friday. ImmunityBio, Inc. has a 12-month low of $2.28 and a 12-month high of $10.53. The stock’s 50-day moving average price is $3.05 and its 200-day moving average price is $3.72. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -3.26 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $8.74 million. As a group, research analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on IBRX. HC Wainwright began coverage on ImmunityBio in a research note on Thursday. They set a “buy” rating and a $8.00 target price on the stock. BTIG Research started coverage on ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, D. Boral Capital reiterated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.19.

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.