Lido Advisors LLC Sells 128,565 Shares of ImmunityBio, Inc. $IBRX

Lido Advisors LLC lowered its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 90.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,784 shares of the company’s stock after selling 128,565 shares during the period. Lido Advisors LLC’s holdings in ImmunityBio were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of IBRX. SEB Asset Management AB purchased a new stake in shares of ImmunityBio during the 1st quarter worth $18,770,000. Winning Points Advisors LLC purchased a new stake in shares of ImmunityBio during the fourth quarter valued at about $1,430,000. Vanguard Group Inc. lifted its position in shares of ImmunityBio by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after buying an additional 5,122,052 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of ImmunityBio in the 1st quarter valued at about $4,281,000. Finally, UBS Group AG grew its position in shares of ImmunityBio by 18.7% in the 4th quarter. UBS Group AG now owns 1,995,607 shares of the company’s stock worth $3,951,000 after buying an additional 315,025 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

Insider Activity

In other news, Director Barry J. Simon sold 25,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total value of $197,000.00. Following the sale, the director owned 2,802,788 shares in the company, valued at $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the transaction, the director directly owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. This trade represents a 81.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 435,443 shares of company stock valued at $3,918,819 in the last ninety days. Insiders own 66.10% of the company’s stock.

ImmunityBio Stock Down 0.3%

ImmunityBio stock opened at $7.15 on Tuesday. The stock has a 50-day moving average price of $7.70 and a 200 day moving average price of $7.59. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of -8.41 and a beta of 0.03. ImmunityBio, Inc. has a 52 week low of $1.95 and a 52 week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The company had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. Research analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

IBRX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. BTIG Research reaffirmed a “buy” rating and issued a $12.00 price target on shares of ImmunityBio in a report on Thursday, May 21st. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ImmunityBio has an average rating of “Moderate Buy” and an average price target of $14.20.

ImmunityBio Company Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.