ImmunityBio, Inc. $IBRX Stock: SBI Securities Co. Ltd. Raises Holdings

SBI Securities Co. Ltd. raised its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,491 shares of the company’s stock after acquiring an additional 62,170 shares during the period. SBI Securities Co. Ltd.’s holdings in ImmunityBio were worth $1,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in ImmunityBio by 29.4% during the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock worth $298,399,000 after purchasing an additional 7,736,819 shares during the last quarter. State Street Corp boosted its stake in ImmunityBio by 20.8% in the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company’s stock valued at $187,343,000 after purchasing an additional 3,690,335 shares during the period. SEB Asset Management AB acquired a new position in ImmunityBio in the 1st quarter valued at $18,770,000. Bank of America Corp DE acquired a new position in ImmunityBio in the 2nd quarter valued at $19,125,000. Finally, Private Advisor Group LLC increased its position in ImmunityBio by 923.5% during the 1st quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock worth $12,644,000 after buying an additional 1,487,482 shares during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBRX. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective on shares of ImmunityBio in a research note on Wednesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, October 6th. Jefferies Financial Group increased their target price on shares of ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a report on Thursday, October 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $8.22 on Friday. The firm’s fifty day moving average price is $8.65 and its two-hundred day moving average price is $8.01. The stock has a market cap of $8.71 billion, a PE ratio of -8.47 and a beta of 0.02. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $51.24 million during the quarter, compared to the consensus estimate of $49.70 million. As a group, sell-side analysts predict that ImmunityBio, Inc. will post -0.30 earnings per share for the current fiscal year.

Insider Buying and Selling at ImmunityBio

In other ImmunityBio news, Director Cheryl Cohen sold 81,056 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total value of $851,088.00. Following the completion of the transaction, the director owned 100,309 shares of the company’s stock, valued at $1,053,244.50. The trade was a 44.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the completion of the transaction, the director owned 2,777,788 shares of the company’s stock, valued at $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 66.10% of the stock is owned by company insiders.

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune response against cancer and infectious diseases. The company’s approach combines immune-system modulators, cellular therapies, vaccines and other technologies intended to address multiple stages of the disease-treatment process.

Its lead product, Anktiva (nogapendekin alfa inbakicept-pmln, also known as N-803), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.