Cetera Investment Advisers Has $7.26 Million Stock Holdings in ImmunityBio, Inc. $IBRX

Key Points

• Cetera Investment Advisers increased its ImmunityBio stake by 2,483.3% in the first quarter, acquiring 910,062 additional shares. Its holdings were worth approximately $7.26 million, while institutional investors collectively owned 8.58% of the company.
• ImmunityBio insiders sold 435,443 shares worth $3.92 million during the latest quarter, including substantial sales by directors Barry J. Simon and Cheryl Cohen under pre-arranged trading plans.
• IBRX shares opened at $7.17 after declining 3.8%; analysts remain broadly optimistic, with a “Moderate Buy” consensus and an average price target of $14.20, despite the company missing its latest EPS estimate.

Cetera Investment Advisers boosted its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 2,483.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 946,709 shares of the company's stock after buying an additional 910,062 shares during the quarter. Cetera Investment Advisers owned approximately 0.09% of ImmunityBio worth $7,261,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mariner LLC increased its stake in shares of ImmunityBio by 10.5% in the fourth quarter. Mariner LLC now owns 17,814 shares of the company's stock worth $35,000 after acquiring an additional 1,689 shares during the last quarter. Sanctuary Advisors LLC boosted its position in ImmunityBio by 6.9% during the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock valued at $59,000 after purchasing an additional 1,918 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in ImmunityBio by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock valued at $57,000 after purchasing an additional 2,271 shares during the last quarter. Archer Investment Corp boosted its position in ImmunityBio by 67.1% during the first quarter. Archer Investment Corp now owns 5,872 shares of the company's stock valued at $45,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in ImmunityBio by 9.0% in the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds 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 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 transaction, the director owned 2,802,788 shares of the company's stock, valued at approximately $22,085,969.44. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total value of $1,246,495.00. Following the completion of the transaction, the director directly owned 125,386 shares in the company, valued at $1,191,167. The trade was a 51.13% 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. In the last quarter, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by corporate insiders.

ImmunityBio Trading Down 3.8%

IBRX stock opened at $7.17 on Friday. The firm has a market cap of $7.51 billion, a PE ratio of -8.44 and a beta of 0.01. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The company has a fifty day simple moving average of $7.70 and a 200 day simple moving average of $7.52.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.07 million. As a group, analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBRX has been the topic of several research reports. BTIG Research reaffirmed a "buy" rating and issued a $12.00 target price on shares of ImmunityBio in a research report on Thursday, May 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, D. Boral Capital restated a "buy" rating and issued a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, ImmunityBio currently has a consensus rating of "Moderate Buy" and an average price target 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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