ImmunityBio, Inc. (NASDAQ:IBRX) Stake Lessened by Deutsche Bank AG

Deutsche Bank AG lessened its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,057 shares of the company's stock after selling 210,462 shares during the period. Deutsche Bank AG's holdings in ImmunityBio were worth $315,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IBRX. Swiss National Bank boosted its holdings in ImmunityBio by 1.5% in the fourth quarter. Swiss National Bank now owns 274,000 shares of the company's stock worth $701,000 after purchasing an additional 4,000 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of ImmunityBio by 20.4% in the 4th quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company's stock valued at $107,000 after buying an additional 7,067 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of ImmunityBio by 29.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,006 shares of the company's stock valued at $95,000 after buying an additional 8,359 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in ImmunityBio by 40.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company's stock worth $74,000 after acquiring an additional 8,380 shares during the period. Finally, Alliancebernstein L.P. raised its stake in ImmunityBio by 4.1% during the fourth quarter. Alliancebernstein L.P. now owns 214,030 shares of the company's stock worth $548,000 after acquiring an additional 8,500 shares during the period. Institutional investors and hedge funds own 8.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBRX shares. D. Boral Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of ImmunityBio in a report on Tuesday. Piper Sandler upgraded ImmunityBio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a research note on Wednesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $12.25.

ImmunityBio Trading Up 8.1%

IBRX traded up $0.22 during trading hours on Wednesday, hitting $2.93. The company's stock had a trading volume of 11,280,039 shares, compared to its average volume of 5,716,026. The company has a 50-day simple moving average of $2.59 and a 200 day simple moving average of $3.07. The firm has a market capitalization of $2.59 billion, a PE ratio of -3.18 and a beta of 0.33. ImmunityBio, Inc. has a fifty-two week low of $1.83 and a fifty-two week high of $7.63.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). The firm had revenue of $16.52 million during the quarter, compared to the consensus estimate of $17.50 million. Research analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

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.