MetLife Investment Management LLC Cuts Stock Holdings in ImmunityBio, Inc. $IBRX

MetLife Investment Management LLC trimmed its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 28.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,158 shares of the company’s stock after selling 25,235 shares during the period. MetLife Investment Management LLC’s holdings in ImmunityBio were worth $193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IBRX. Thrive Wealth Management LLC purchased a new position in shares of ImmunityBio in the 1st quarter worth $30,000. Slow Capital Inc. bought a new stake in ImmunityBio during the 1st quarter valued at about $30,000. Compound Planning Inc. bought a new stake in ImmunityBio during the 1st quarter valued at about $30,000. Xponance Inc. purchased a new position in ImmunityBio during the 1st quarter valued at about $33,000. Finally, Humankind Investments LLC purchased a new position in ImmunityBio during the 1st quarter valued at about $34,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBRX. D. Boral Capital reaffirmed a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a research report on Monday. 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. Finally, Piper Sandler upgraded shares of ImmunityBio from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $10.75.

ImmunityBio Stock Up 6.6%

ImmunityBio stock opened at $2.57 on Wednesday. ImmunityBio, Inc. has a 52-week low of $1.83 and a 52-week high of $7.48. The company has a fifty day simple moving average of $2.56 and a 200-day simple moving average of $2.68. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -5.35 and a beta of 0.30.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The firm had revenue of $26.43 million during the quarter, compared to analysts’ expectations of $21.95 million. On average, research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

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.