Xponance Inc. Acquires Shares of 11,021 ImmunityBio, Inc. (NASDAQ:IBRX)

Xponance Inc. acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,021 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ImmunityBio by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after acquiring an additional 425,713 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of ImmunityBio by 682.7% in the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after acquiring an additional 3,002,622 shares during the last quarter. Tang Capital Management LLC bought a new stake in shares of ImmunityBio in the 4th quarter worth about $7,204,000. Northern Trust Corp lifted its holdings in shares of ImmunityBio by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock worth $3,388,000 after acquiring an additional 97,348 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ImmunityBio by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,276,673 shares of the company’s stock worth $3,268,000 after acquiring an additional 10,692 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Stock Down 2.8%

IBRX stock opened at $2.75 on Monday. ImmunityBio, Inc. has a 52 week low of $1.83 and a 52 week high of $7.48. The firm has a 50 day moving average of $2.79 and a 200 day moving average of $2.84. The stock has a market capitalization of $2.43 billion, a PE ratio of -4.74 and a beta of 0.08.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.15) EPS 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 analyst estimates of $17.50 million. On average, equities research analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

IBRX has been the topic of a number of research reports. Piper Sandler raised shares of ImmunityBio from a “neutral” rating to an “overweight” rating and raised their target price for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. D. Boral Capital reissued a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Tuesday, July 8th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, June 4th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average 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.