Pictet Asset Management Holding SA Raises Position in ImmunityBio, Inc. $IBRX

Pictet Asset Management Holding SA increased its stake in ImmunityBio, Inc. (NASDAQ:IBRX) by 2,365.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 830,137 shares of the company’s stock after purchasing an additional 796,470 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ImmunityBio were worth $6,367,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. TigerOak Management L.L.C. grew its holdings in ImmunityBio by 334.3% during the first quarter. TigerOak Management L.L.C. now owns 72,368 shares of the company’s stock valued at $555,000 after purchasing an additional 55,704 shares during the period. Wealth Effects LLC raised its stake in shares of ImmunityBio by 27.3% in the first quarter. Wealth Effects LLC now owns 118,350 shares of the company’s stock valued at $908,000 after buying an additional 25,350 shares during the period. Unique Wealth LLC purchased a new position in shares of ImmunityBio during the 1st quarter valued at $253,000. Xcel Wealth Management LLC lifted its position in shares of ImmunityBio by 115.5% during the 1st quarter. Xcel Wealth Management LLC now owns 43,100 shares of the company’s stock valued at $331,000 after buying an additional 23,100 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in shares of ImmunityBio during the 1st quarter worth $78,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Insider Transactions at ImmunityBio

In other news, Director Barry J. Simon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 95,722 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $9.01, for a total value of $862,455.22. Following the sale, the director owned 32,173 shares in the company, valued at approximately $289,878.73. This represents a 74.84% 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. Insiders have sold a total of 144,755 shares of company stock valued at $1,233,832 in the last ninety days. Insiders own 66.10% of the company’s stock.

ImmunityBio Price Performance

ImmunityBio stock opened at $9.44 on Friday. The firm has a market capitalization of $9.89 billion, a P/E ratio of -11.11 and a beta of 0.01. ImmunityBio, Inc. has a one year low of $1.95 and a one year high of $12.43. The business has a fifty day moving average price of $7.71 and a 200-day moving average price of $6.74.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBRX. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. BTIG Research reaffirmed a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ImmunityBio presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

About ImmunityBio

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.