ImmunityBio, Inc. $IBRX Position Lifted by Courier Capital LLC

Courier Capital LLC grew its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,000 shares of the company’s stock after acquiring an additional 56,000 shares during the period. Courier Capital LLC’s holdings in ImmunityBio were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in ImmunityBio by 29.4% in the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock worth $298,399,000 after purchasing an additional 7,736,819 shares during the period. State Street Corp grew its holdings in ImmunityBio by 20.8% during the second quarter. State Street Corp now owns 21,398,438 shares of the company’s stock valued at $187,343,000 after purchasing an additional 3,690,335 shares during the period. Bank of America Corp DE grew its holdings in ImmunityBio by 2.7% during the first quarter. Bank of America Corp DE now owns 2,447,843 shares of the company’s stock valued at $18,775,000 after purchasing an additional 65,340 shares during the period. SEB Asset Management AB purchased a new stake in ImmunityBio in the first quarter worth about $18,770,000. Finally, Private Advisor Group LLC increased its position in ImmunityBio by 923.5% in the first quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock worth $12,644,000 after buying an additional 1,487,482 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX traded down $0.32 during midday trading on Tuesday, reaching $9.80. The stock had a trading volume of 11,534,240 shares, compared to its average volume of 20,568,516. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of -10.10 and a beta of 0.02. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43. The stock has a 50-day moving average of $8.37 and a 200-day moving average of $7.91.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $51.24 million for the quarter, compared to the consensus estimate of $49.70 million. As a group, analysts forecast that ImmunityBio, Inc. will post -0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group raised ImmunityBio to a “strong-buy” rating in a research note on Friday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

Insiders Place Their Bets

In related news, Director Cheryl Cohen sold 81,056 shares of ImmunityBio stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $10.50, for a total transaction of $851,088.00. Following the sale, the director owned 100,309 shares of the company’s stock, valued at approximately $1,053,244.50. This trade represents a 44.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the completion of the transaction, the director owned 2,777,788 shares of the company’s stock, valued at $29,861,221. The trade was a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 66.10% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.