Rafferty Asset Management LLC Grows Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Rafferty Asset Management LLC raised its position in ImmunityBio, Inc. (NASDAQ:IBRX) by 20.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 549,905 shares of the company’s stock after buying an additional 94,200 shares during the period. Rafferty Asset Management LLC’s holdings in ImmunityBio were worth $1,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in ImmunityBio by 30.4% in the fourth quarter. Wells Fargo & Company MN now owns 138,605 shares of the company’s stock valued at $355,000 after buying an additional 32,334 shares in the last quarter. Altium Capital Management LLC purchased a new position in ImmunityBio in the fourth quarter valued at $2,714,000. Vanguard Group Inc. increased its holdings in ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after buying an additional 425,713 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in ImmunityBio by 71.2% in the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company’s stock valued at $236,000 after buying an additional 38,400 shares in the last quarter. Finally, Barclays PLC increased its holdings in ImmunityBio by 9.8% in the fourth quarter. Barclays PLC now owns 396,484 shares of the company’s stock valued at $1,015,000 after buying an additional 35,448 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

IBRX has been the subject of a number of recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a research report on Monday, May 12th. Finally, Piper Sandler upgraded shares of ImmunityBio from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $4.25 to $5.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ImmunityBio has an average rating of “Buy” and an average target price of $12.25.

ImmunityBio Stock Up 3.6%

Shares of NASDAQ IBRX opened at $2.90 on Wednesday. The company’s 50-day simple moving average is $2.64 and its 200-day simple moving average is $3.25. ImmunityBio, Inc. has a 52-week low of $1.83 and a 52-week high of $7.63. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -3.15 and a beta of 0.33.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Monday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $16.52 million for the quarter, compared to analyst estimates of $17.50 million. Equities research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

ImmunityBio 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.