Private Advisor Group LLC Purchases 1,487,482 Shares of ImmunityBio, Inc. $IBRX

Private Advisor Group LLC grew its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 923.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,648,556 shares of the company’s stock after buying an additional 1,487,482 shares during the period. Private Advisor Group LLC owned 0.16% of ImmunityBio worth $12,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in ImmunityBio by 193.4% in the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock worth $134,000 after acquiring an additional 29,297 shares during the last quarter. Creative Planning lifted its holdings in ImmunityBio by 9.2% during the second quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after purchasing an additional 5,231 shares during the last quarter. Cetera Investment Advisers boosted its position in ImmunityBio by 56.9% during the second quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock worth $49,000 after purchasing an additional 6,731 shares during the period. JPMorgan Chase & Co. boosted its position in ImmunityBio by 5.2% during the second quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock worth $2,829,000 after purchasing an additional 52,782 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of ImmunityBio by 11.8% in the second quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock worth $542,000 after purchasing an additional 21,715 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.

Analysts Set New Price Targets

IBRX has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. BTIG Research reaffirmed a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a research note on Tuesday, May 5th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

ImmunityBio Price Performance

IBRX stock opened at $9.44 on Friday. The stock has a 50-day simple moving average of $7.71 and a two-hundred day simple moving average of $6.74. ImmunityBio, Inc. has a twelve month low of $1.95 and a twelve month high of $12.43. The firm has a market capitalization of $9.89 billion, a PE ratio of -11.11 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The firm had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.07 million. On average, equities research analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 95,722 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $9.01, for a total value of $862,455.22. Following the completion of the transaction, the director directly owned 32,173 shares of the company’s stock, valued at $289,878.73. This trade represents a 74.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the transaction, the director owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,755 shares of company stock worth $1,233,832 over the last quarter. Corporate insiders own 66.10% of the company’s stock.

ImmunityBio Company Profile

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.