ImmunityBio, Inc. $IBRX Shares Purchased by Kercheville Advisors LLC

Kercheville Advisors LLC boosted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 416.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 519,100 shares of the company’s stock after purchasing an additional 418,600 shares during the period. Kercheville Advisors LLC owned about 0.05% of ImmunityBio worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IBRX. Plancorp LLC purchased a new position in shares of ImmunityBio during the 2nd quarter valued at approximately $717,000. Armistice Capital LLC acquired a new stake in ImmunityBio during the second quarter valued at $20,497,000. AlphaCore Capital LLC purchased a new position in ImmunityBio in the second quarter valued at $7,854,000. Geode Capital Management LLC increased its holdings in ImmunityBio by 34.7% in the second quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock valued at $15,254,000 after buying an additional 1,487,849 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of ImmunityBio in the second quarter worth about $70,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBRX has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, September 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Jefferies Financial Group boosted their price objective on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a research note on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

ImmunityBio Trading Up 2.0%

NASDAQ:IBRX opened at $2.02 on Monday. ImmunityBio, Inc. has a 12 month low of $1.83 and a 12 month high of $4.27. The stock has a 50 day moving average of $2.18 and a two-hundred day moving average of $2.43. The firm has a market cap of $1.99 billion, a P/E ratio of -4.93 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $31.88 million. On average, research analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.