SEB Asset Management AB Takes Position in ImmunityBio, Inc. $IBRX

SEB Asset Management AB bought a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,447,150 shares of the company’s stock, valued at approximately $18,770,000. SEB Asset Management AB owned approximately 0.23% of ImmunityBio at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the third quarter worth about $27,000. WealthPlan Investment Management LLC acquired a new position in ImmunityBio in the 4th quarter worth $27,000. Diversify Advisory Services LLC bought a new stake in shares of ImmunityBio in the second quarter worth $27,000. Kovack Advisors Inc. bought a new stake in ImmunityBio during the fourth quarter worth about $27,000. Finally, Cherry Creek Investment Advisors Inc. bought a new position in shares of ImmunityBio in the 4th quarter valued at about $28,000. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Stock Performance

Shares of IBRX stock opened at $7.68 on Monday. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -9.04 and a beta of 0.01. The stock has a 50-day moving average of $7.82 and a 200-day moving average of $7.20. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $43.07 million. Sell-side analysts forecast that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.

Insider Transactions at ImmunityBio

In other news, Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. This trade represents a 81.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the transaction, the director directly owned 2,802,788 shares in the company, valued at approximately $22,085,969.44. This 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. In the last ninety days, insiders sold 435,443 shares of company stock valued at $3,918,819. Corporate insiders own 66.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on IBRX shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. BTIG Research reiterated a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

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.