Cwm LLC Boosts Holdings in ImmunityBio, Inc. $IBRX

Cwm LLC increased its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 849.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,715 shares of the company’s stock after buying an additional 43,583 shares during the quarter. Cwm LLC’s holdings in ImmunityBio were worth $129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Slow Capital Inc. purchased a new position in shares of ImmunityBio in the first quarter worth approximately $30,000. Financial Enhancement Group LLC purchased a new position in shares of ImmunityBio in the second quarter worth approximately $28,000. Compound Planning Inc. purchased a new position in shares of ImmunityBio in the first quarter worth approximately $30,000. Xponance Inc. purchased a new position in shares of ImmunityBio in the first quarter worth approximately $33,000. Finally, Humankind Investments LLC purchased a new position in shares of ImmunityBio in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBRX shares. D. Boral Capital restated a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a research note on Monday, September 8th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

ImmunityBio Price Performance

ImmunityBio stock opened at $2.40 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of -5.00 and a beta of 0.27. ImmunityBio, Inc. has a 1 year low of $1.83 and a 1 year high of $5.88. The firm’s 50 day moving average price is $2.50 and its 200-day moving average price is $2.60.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $26.43 million for the quarter, compared to the consensus estimate of $21.95 million. As a group, equities analysts expect that ImmunityBio, Inc. will post -0.92 EPS for the current 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.