HighTower Advisors LLC Sells 6,517 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

HighTower Advisors LLC lessened its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 17.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,095 shares of the company’s stock after selling 6,517 shares during the period. HighTower Advisors LLC’s holdings in ImmunityBio were worth $77,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new stake in shares of ImmunityBio in the fourth quarter valued at approximately $26,000. Maia Wealth LLC acquired a new position in ImmunityBio during the 4th quarter valued at $37,000. Schechter Investment Advisors LLC bought a new stake in ImmunityBio in the 4th quarter valued at $38,000. Mutual Advisors LLC acquired a new stake in ImmunityBio in the 4th quarter worth $41,000. Finally, Captrust Financial Advisors bought a new position in shares of ImmunityBio during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

ImmunityBio Stock Down 4.7 %

NASDAQ:IBRX opened at $2.83 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of -3.08 and a beta of 0.82. ImmunityBio, Inc. has a 12-month low of $2.28 and a 12-month high of $10.53. The firm has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.58.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. On average, research analysts expect that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IBRX shares. D. Boral Capital reiterated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Monday, March 31st. BTIG Research started coverage on ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target 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.