Deutsche Bank AG Boosts Holdings in ImmunityBio, Inc. $IBRX

Key Points

• Deutsche Bank increased its ImmunityBio stake by 39.5% in the second quarter, bringing its holdings to 487,571 shares valued at approximately $4.27 million. Several other institutional investors also added shares, though institutional ownership remains relatively low at 8.58%.
• ImmunityBio shares opened at $8.19, up 8.0%, but the company reported a quarterly loss of $0.22 per share, missing estimates by $0.14. Revenue of $51.24 million exceeded analyst expectations of $49.70 million.
• Analysts maintain a consensus “Moderate Buy” rating with a $14.20 price target, while insiders have sold 435,443 shares worth about $3.92 million over the past 90 days.

Deutsche Bank AG lifted its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 39.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,571 shares of the company's stock after buying an additional 138,049 shares during the period. Deutsche Bank AG's holdings in ImmunityBio were worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in ImmunityBio by 193.4% in the first quarter. AQR Capital Management LLC now owns 44,448 shares of the company's stock worth $134,000 after acquiring an additional 29,297 shares during the period. Creative Planning increased its stake in ImmunityBio by 9.2% during the second quarter. Creative Planning now owns 62,028 shares of the company's stock worth $164,000 after acquiring an additional 5,231 shares during the last quarter. Cetera Investment Advisers raised its position in ImmunityBio by 56.9% in the second quarter. Cetera Investment Advisers now owns 18,551 shares of the company's stock valued at $49,000 after purchasing an additional 6,731 shares during the period. JPMorgan Chase & Co. raised its position in ImmunityBio by 5.2% in the second quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company's stock valued at $2,829,000 after purchasing an additional 52,782 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of ImmunityBio by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 205,478 shares of the company's stock valued at $542,000 after purchasing an additional 21,715 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company's stock.

ImmunityBio Stock Up 8.0%

Shares of NASDAQ IBRX opened at $8.19 on Wednesday. The business's 50 day moving average is $7.82 and its two-hundred day moving average is $7.79. ImmunityBio, Inc. has a 52-week low of $1.95 and a 52-week high of $12.43. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of -8.44 and a beta of 0.03.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. D. Boral Capital reiterated a "buy" rating and set a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. HC Wainwright restated a "buy" rating and issued a $15.00 price objective on shares of ImmunityBio in a report on Tuesday, June 2nd. 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ImmunityBio in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.20.

Insider Buying and Selling

In other ImmunityBio news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction dated 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 of the company's stock, valued at $316,277.28. The trade was a 81.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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 owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% 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 90 days, insiders have sold 435,443 shares of company stock valued at $3,918,819. Corporate insiders own 66.10% of the company's stock.

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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