15,105 Shares in ImmunityBio, Inc. (NASDAQ:IBRX) Purchased by Grant GrossMendelsohn LLC

Grant GrossMendelsohn LLC purchased a new position in ImmunityBio, Inc. (NASDAQ:IBRX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,105 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in ImmunityBio by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,276,673 shares of the company’s stock worth $3,268,000 after buying an additional 10,692 shares during the last quarter. Raymond James Financial Inc. purchased a new position in ImmunityBio in the 4th quarter worth about $172,000. Swiss National Bank raised its position in ImmunityBio by 1.5% in the 4th quarter. Swiss National Bank now owns 274,000 shares of the company’s stock worth $701,000 after buying an additional 4,000 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of ImmunityBio by 9.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 295,950 shares of the company’s stock valued at $793,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of ImmunityBio by 40.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company’s stock valued at $74,000 after purchasing an additional 8,380 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IBRX. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, June 4th. Piper Sandler raised shares of ImmunityBio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Tuesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $12.25.

ImmunityBio Trading Down 2.1%

NASDAQ IBRX opened at $2.81 on Friday. ImmunityBio, Inc. has a 12 month low of $1.83 and a 12 month high of $7.48. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -4.84 and a beta of 0.08. The company’s 50 day moving average is $2.71 and its two-hundred day moving average is $2.83.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data 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 analysts’ expectations of $17.50 million. Sell-side analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current 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.