Wells Fargo & Company MN Purchases 32,334 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Wells Fargo & Company MN increased its position in ImmunityBio, Inc. (NASDAQ:IBRX) by 30.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 138,605 shares of the company’s stock after acquiring an additional 32,334 shares during the quarter. Wells Fargo & Company MN’s holdings in ImmunityBio were worth $355,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IBRX. Stephens Inc. AR purchased a new position in shares of ImmunityBio in the fourth quarter worth about $26,000. Cibc World Markets Corp bought a new position in ImmunityBio in the 4th quarter worth approximately $35,000. Virtu Financial LLC purchased a new position in ImmunityBio in the 3rd quarter valued at approximately $51,000. Maia Wealth LLC bought a new stake in ImmunityBio during the 4th quarter valued at $37,000. Finally, Schechter Investment Advisors LLC purchased a new stake in shares of ImmunityBio during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Stock Performance

ImmunityBio stock opened at $2.10 on Tuesday. ImmunityBio, Inc. has a fifty-two week low of $2.00 and a fifty-two week high of $9.48. The firm’s fifty day moving average price is $2.76 and its 200-day moving average price is $3.42. The stock has a market cap of $1.85 billion, a P/E ratio of -2.28 and a beta of 0.33.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $8.74 million. On average, analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBRX. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a research report on Monday, April 28th. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Wednesday, April 23rd. Finally, BTIG Research started coverage on shares of ImmunityBio in a research report on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $12.19.

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.