D.A. Davidson & CO. Makes New Investment in ImmunityBio, Inc. $IBRX

Key Points

• D.A. Davidson & Co. initiated a new position in ImmunityBio during the first quarter, buying 558,209 shares worth about $4.28 million. The stake represented 0.05% of the company at the end of the reporting period.
• Other institutional investors have also been active in IBRX, including large increases from State Street, Vanguard, and Goldman Sachs. Overall, hedge funds and other institutions own about 8.58% of the stock.
• Analyst sentiment is mixed but mostly bullish, with six Buy ratings and one Sell rating, and an average target price of $14.20. ImmunityBio shares were up 3.1% and recently traded at $7.68, while the company last reported a wider-than-expected quarterly loss despite slightly better-than-expected revenue.

D.A. Davidson & CO. acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 558,209 shares of the company's stock, valued at approximately $4,281,000. D.A. Davidson & CO. owned 0.05% of ImmunityBio at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IBRX. State Street Corp boosted 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 buying an additional 5,139,890 shares during the last quarter. Vanguard Group Inc. increased its holdings in ImmunityBio by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company's stock worth $64,899,000 after buying an additional 5,122,052 shares during the last quarter. Goldman Sachs Group Inc. raised its position in ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company's stock worth $12,182,000 after acquiring an additional 5,012,001 shares during the period. Woodline Partners LP boosted its stake in ImmunityBio by 53.7% in the third quarter. Woodline Partners LP now owns 5,297,725 shares of the company's stock valued at $13,032,000 after acquiring an additional 1,851,854 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in ImmunityBio by 224.9% in the third quarter. Two Sigma Investments LP now owns 2,607,860 shares of the company's stock valued at $6,415,000 after acquiring an additional 1,805,297 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IBRX. Weiss Ratings reissued a "sell (d-)" rating on shares of ImmunityBio in a research report on Friday, July 10th. D. Boral Capital reaffirmed a "buy" rating and issued a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, BTIG Research reissued a "buy" rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.20.

ImmunityBio Stock Up 3.1%

Shares of NASDAQ:IBRX opened at $7.68 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of -9.04 and a beta of 0.01. ImmunityBio, Inc. has a twelve month low of $1.95 and a twelve month high of $12.43. The company has a 50-day moving average price of $7.82 and a two-hundred day moving average price of $7.16.

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

Insider Transactions at ImmunityBio

In other news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the transaction, the director directly owned 35,064 shares in the company, valued at approximately $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the transaction, the director directly 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. 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 435,443 shares of company stock valued at $3,918,819 over the last three months. Company insiders own 66.10% of the company's stock.

ImmunityBio Company 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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