Alliancebernstein L.P. Raises Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Alliancebernstein L.P. boosted its stake in ImmunityBio, Inc. (NASDAQ:IBRX) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,030 shares of the company’s stock after buying an additional 8,500 shares during the quarter. Alliancebernstein L.P.’s holdings in ImmunityBio were worth $548,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Stephens Inc. AR purchased a new stake in shares of ImmunityBio in the fourth quarter valued at $26,000. Cibc World Markets Corp purchased a new position in ImmunityBio in the 4th quarter valued at about $35,000. Virtu Financial LLC acquired a new stake in shares of ImmunityBio during the 3rd quarter worth about $51,000. Maia Wealth LLC purchased a new stake in shares of ImmunityBio during the fourth quarter worth about $37,000. Finally, Schechter Investment Advisors LLC acquired a new position in shares of ImmunityBio in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Tuesday, April 15th. BTIG Research initiated coverage on ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a research report on Wednesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $12.19.

ImmunityBio Stock Down 0.4 %

IBRX stock opened at $2.47 on Friday. ImmunityBio, Inc. has a 52 week low of $2.28 and a 52 week high of $10.53. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -2.68 and a beta of 0.51. The business has a fifty day simple moving average of $2.95 and a 200-day simple moving average of $3.50.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS 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 analysts’ expectations of $8.74 million. As a group, analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

About ImmunityBio

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.