New York Life Investment Management LLC Cuts Stock Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

New York Life Investment Management LLC lessened its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 191,221 shares of the company’s stock after selling 4,408 shares during the period. New York Life Investment Management LLC’s holdings in ImmunityBio were worth $960,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Aire Advisors LLC purchased a new stake in ImmunityBio during the third quarter worth $25,000. WINTON GROUP Ltd purchased a new stake in shares of ImmunityBio during the 3rd quarter worth $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in ImmunityBio during the third quarter valued at about $37,000. SG Americas Securities LLC purchased a new position in ImmunityBio in the third quarter valued at about $57,000. Finally, Merit Financial Group LLC grew its stake in ImmunityBio by 84.0% in the third quarter. Merit Financial Group LLC now owns 43,800 shares of the company’s stock valued at $74,000 after purchasing an additional 20,000 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Trading Up 5.8 %

Shares of IBRX stock opened at $8.26 on Wednesday. ImmunityBio, Inc. has a 12-month low of $1.25 and a 12-month high of $10.53. The business’s fifty day simple moving average is $5.74 and its 200-day simple moving average is $4.53. The company has a market cap of $5.59 billion, a PE ratio of -7.12 and a beta of 1.16.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.03 million. On average, equities analysts forecast that ImmunityBio, Inc. will post -0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on shares of ImmunityBio from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, April 29th.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.