Cambridge Investment Research Advisors Inc. Acquires New Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Cambridge Investment Research Advisors Inc. acquired a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,950 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in ImmunityBio by 30.4% during the fourth quarter. Wells Fargo & Company MN now owns 138,605 shares of the company’s stock valued at $355,000 after acquiring an additional 32,334 shares in the last quarter. Altium Capital Management LLC bought a new stake in shares of ImmunityBio in the 4th quarter worth about $2,714,000. Vanguard Group Inc. lifted its holdings in ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after buying an additional 425,713 shares in the last quarter. Barclays PLC lifted its holdings in ImmunityBio by 9.8% during the 4th quarter. Barclays PLC now owns 396,484 shares of the company’s stock valued at $1,015,000 after buying an additional 35,448 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in ImmunityBio by 4.1% during the 4th quarter. Alliancebernstein L.P. now owns 214,030 shares of the company’s stock valued at $548,000 after buying an additional 8,500 shares in the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Trading Down 5.5%

NASDAQ:IBRX opened at $2.74 on Wednesday. The company has a market cap of $2.42 billion, a PE ratio of -4.72 and a beta of 0.08. ImmunityBio, Inc. has a twelve month low of $1.83 and a twelve month high of $7.48. The company’s 50 day moving average is $2.74 and its two-hundred day moving average is $2.84.

ImmunityBio (NASDAQ:IBRX) last released 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, analysts expect that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBRX. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a report on Wednesday, June 4th. Piper Sandler raised shares of ImmunityBio from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $4.25 to $5.00 in a research report on Tuesday, May 20th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $12.25.

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.