ImmunityBio, Inc. (NASDAQ:IBRX) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,328,229 shares of the company’s stock after acquiring an additional 425,713 shares during the quarter. Vanguard Group Inc. owned approximately 2.49% of ImmunityBio worth $44,360,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stephens Inc. AR bought a new position in shares of ImmunityBio during the fourth quarter worth about $26,000. Captrust Financial Advisors bought a new stake in ImmunityBio in the third quarter valued at about $41,000. Cibc World Markets Corp acquired a new stake in ImmunityBio during the fourth quarter valued at approximately $35,000. Virtu Financial LLC bought a new position in ImmunityBio during the 3rd quarter worth approximately $51,000. Finally, Maia Wealth LLC acquired a new position in shares of ImmunityBio in the 4th quarter worth approximately $37,000. 8.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IBRX shares. D. Boral Capital reissued a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a report on Thursday, March 13th. Finally, BTIG Research assumed coverage on shares of ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ImmunityBio has a consensus rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Price Performance

NASDAQ:IBRX opened at $2.63 on Friday. ImmunityBio, Inc. has a 12-month low of $2.28 and a 12-month high of $10.53. The business has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $3.54. The firm has a market capitalization of $2.24 billion, a P/E ratio of -2.86 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. Research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

ImmunityBio Company 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.