Armistice Capital LLC Acquires New Position in ImmunityBio, Inc. $IBRX

Key Points

• Armistice Capital LLC acquired a new position of 7,764,000 shares in ImmunityBio (NASDAQ: IBRX), valued at about $20.5 million and representing roughly 0.82% of the company.
• Several other large institutions— including Vanguard, Citigroup, Swiss National Bank, Invesco and Charles Schwab—also increased stakes, leaving hedge funds and other institutional investors with about 8.58% ownership.
• IBRX shares recently traded around $2.19 with a market cap of ~$2.16 billion; the company posted a slight quarterly EPS beat and the analyst consensus is a “Moderate Buy” with an average target price of $10.75.

Armistice Capital LLC acquired a new stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,764,000 shares of the company's stock, valued at approximately $20,497,000. Armistice Capital LLC owned about 0.82% of ImmunityBio as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of ImmunityBio by 17.4% during the 1st quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company's stock valued at $61,237,000 after buying an additional 3,016,325 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ImmunityBio by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,302,083 shares of the company's stock valued at $3,919,000 after buying an additional 25,410 shares in the last quarter. Swiss National Bank raised its holdings in ImmunityBio by 49.8% during the 1st quarter. Swiss National Bank now owns 410,400 shares of the company's stock valued at $1,235,000 after acquiring an additional 136,400 shares during the period. Citigroup Inc. lifted its position in shares of ImmunityBio by 605.9% during the first quarter. Citigroup Inc. now owns 2,714,662 shares of the company's stock worth $8,171,000 after acquiring an additional 2,330,086 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of ImmunityBio by 67.6% during the first quarter. Invesco Ltd. now owns 110,138 shares of the company's stock worth $332,000 after acquiring an additional 44,442 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company's stock.

ImmunityBio Stock Performance

Shares of IBRX stock opened at $2.19 on Friday. The company has a market capitalization of $2.16 billion, a PE ratio of -5.34 and a beta of 0.10. ImmunityBio, Inc. has a 52-week low of $1.83 and a 52-week high of $4.27. The business's fifty day moving average is $2.29 and its 200 day moving average is $2.53.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $32.06 million for the quarter, compared to analysts' expectations of $31.88 million. On average, sell-side analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBRX shares. HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, September 10th. Weiss Ratings restated a "sell (e+)" rating on shares of ImmunityBio in a research note on Monday. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $24.00 target price on shares of ImmunityBio in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.

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