Principal Financial Group Inc. Sells 28,706 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Principal Financial Group Inc. decreased its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 69.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,513 shares of the company’s stock after selling 28,706 shares during the period. Principal Financial Group Inc.’s holdings in ImmunityBio were worth $47,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in ImmunityBio in the 3rd quarter worth about $41,000. Virtu Financial LLC bought a new stake in shares of ImmunityBio in the third quarter worth approximately $51,000. Algert Global LLC purchased a new position in shares of ImmunityBio during the second quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. lifted its position in ImmunityBio by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in ImmunityBio in the second quarter worth approximately $105,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IBRX shares. D. Boral Capital reissued a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a report on Monday. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Trading Down 1.1 %

IBRX opened at $2.73 on Wednesday. The firm’s 50 day simple moving average is $4.13 and its two-hundred day simple moving average is $4.43. The company has a market capitalization of $1.90 billion, a PE ratio of -2.97 and a beta of 0.86. ImmunityBio, Inc. has a 1-year low of $2.50 and a 1-year 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.