Sheets Smith Wealth Management Has $987,000 Stock Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Sheets Smith Wealth Management reduced its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 28.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,679 shares of the company’s stock after selling 77,200 shares during the period. Sheets Smith Wealth Management’s holdings in ImmunityBio were worth $987,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aire Advisors LLC bought a new stake in shares of ImmunityBio during the third quarter valued at approximately $25,000. WINTON GROUP Ltd bought a new position in shares of ImmunityBio during the 3rd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ImmunityBio in the 3rd quarter valued at $37,000. SG Americas Securities LLC acquired a new position in ImmunityBio during the third quarter worth $57,000. Finally, Merit Financial Group LLC lifted its holdings in shares of ImmunityBio by 84.0% during the third quarter. Merit Financial Group LLC now owns 43,800 shares of the company’s stock valued at $74,000 after acquiring an additional 20,000 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price target on ImmunityBio from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, April 29th.

ImmunityBio Stock Performance

ImmunityBio stock traded down $1.36 during midday trading on Monday, reaching $7.79. The stock had a trading volume of 9,424,582 shares, compared to its average volume of 6,050,436. ImmunityBio, Inc. has a 1-year low of $1.25 and a 1-year high of $10.53. The firm’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $4.49. The stock has a market capitalization of $5.27 billion, a P/E ratio of -6.89 and a beta of 1.16.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.03 million. On average, sell-side analysts anticipate that ImmunityBio, Inc. will post -0.76 earnings per share for the current fiscal year.

ImmunityBio Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.