Northern Trust Corp Boosts Stock Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Northern Trust Corp boosted its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,323,424 shares of the company’s stock after buying an additional 97,348 shares during the period. Northern Trust Corp owned 0.19% of ImmunityBio worth $3,388,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IBRX. Stephens Inc. AR acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $26,000. Cibc World Markets Corp acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $35,000. Maia Wealth LLC acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $37,000. Schechter Investment Advisors LLC acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $38,000. Finally, Mutual Advisors LLC acquired a new position in shares of ImmunityBio during the 4th quarter worth approximately $41,000. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Trading Down 5.6%

Shares of NASDAQ:IBRX opened at $2.53 on Friday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -2.75 and a beta of 0.33. ImmunityBio, Inc. has a 12-month low of $1.83 and a 12-month high of $7.63. The business has a 50-day moving average price of $2.63 and a 200 day moving average price of $3.21.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Monday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The business had revenue of $16.52 million for the quarter, compared to the consensus estimate of $17.50 million. As a group, equities research analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on IBRX. D. Boral Capital restated a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a report on Monday, May 12th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a report on Monday, May 12th. Finally, Piper Sandler upgraded ImmunityBio from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.25 to $5.00 in a report on Tuesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.25.

ImmunityBio 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.