157,439 Shares in ImmunityBio, Inc. $IBRX Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 157,439 ImmunityBio shares during the second quarter, valued at approximately $1.38 million. Other major institutions, including BlackRock, Vanguard, State Street and Goldman Sachs, also increased their positions.
• ImmunityBio insiders sold 412,410 shares worth about $3.75 million over the past three months, including substantial sales by directors Cheryl Cohen and Christobel Selecky under pre-arranged Rule 10b5-1 plans.
• IBRX shares opened at $8.08, while analysts maintain a “Moderate Buy” consensus with an average price target of $14.20. The company missed quarterly earnings expectations, reporting a loss of $0.22 per share despite revenue exceeding estimates.

Jupiter Topco LLC acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 157,439 shares of the company's stock, valued at approximately $1,378,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of ImmunityBio by 29.4% in the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company's stock valued at $298,399,000 after purchasing an additional 7,736,819 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of ImmunityBio by 18.5% in 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 period. State Street Corp grew its holdings in shares of ImmunityBio by 45.4% in the 4th quarter. State Street Corp now owns 16,455,703 shares of the company's stock worth $32,582,000 after purchasing an additional 5,139,890 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ImmunityBio by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 7,920,178 shares of the company's stock valued at $15,684,000 after buying an additional 1,030,113 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of ImmunityBio by 439.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company's stock valued at $12,182,000 after acquiring an additional 5,012,001 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company's stock.

Insider Buying and Selling

In other news, Director Cheryl Cohen sold 131,210 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the completion of the sale, the director owned 125,386 shares in the company, valued at $1,191,167. This represents a 51.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of the company's stock in a transaction dated 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 owned 35,064 shares in the company, valued at $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. 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 sold 412,410 shares of company stock valued at $3,753,442 in the last three months. 66.10% of the stock is owned by corporate insiders.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $8.08 on Friday. The business's 50 day moving average price is $7.90 and its 200-day moving average price is $7.88. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The company has a market cap of $8.56 billion, a price-to-earnings ratio of -8.33 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.14). The firm had revenue of $51.24 million for the quarter, compared to analyst estimates of $49.70 million. Sell-side analysts predict that ImmunityBio, Inc. will post -0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IBRX shares. Weiss Ratings reissued a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. BTIG Research restated a "buy" rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, HC Wainwright restated a "buy" rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.20.

ImmunityBio 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.

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