ImmunityBio, Inc. $IBRX Position Boosted by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its ImmunityBio stake by 58.1% in the second quarter, holding 1.31 million shares worth approximately $11.5 million. Institutional investors collectively own 8.58% of IBRX.
• ImmunityBio reported quarterly revenue of $51.24 million, above expectations, but its loss of $0.22 per share exceeded the consensus loss estimate of $0.08. Analysts expect a full-year loss of $0.44 per share.
• IBRX traded near $7.87, while analysts maintained a broadly positive outlook with a “Moderate Buy” consensus and a $14.20 average price target; however, insiders sold $3.92 million of stock over the past 90 days.

Bank of New York Mellon Corp increased its holdings in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 58.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,314,760 shares of the company's stock after purchasing an additional 483,330 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of ImmunityBio worth $11,511,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBRX. Mariner LLC grew its position in ImmunityBio by 10.5% in the fourth quarter. Mariner LLC now owns 17,814 shares of the company's stock worth $35,000 after buying an additional 1,689 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of ImmunityBio by 6.9% during the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock valued at $59,000 after acquiring an additional 1,918 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of ImmunityBio by 8.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock worth $57,000 after acquiring an additional 2,271 shares in the last quarter. Archer Investment Corp boosted its stake in shares of ImmunityBio by 67.1% during the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company's stock worth $45,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Mutual Advisors LLC grew its holdings in shares of ImmunityBio by 9.0% in the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock worth $60,000 after acquiring an additional 2,500 shares during the last quarter. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Stock Performance

IBRX stock opened at $7.87 on Wednesday. The firm has a 50 day simple moving average of $7.90 and a 200 day simple moving average of $7.85. ImmunityBio, Inc. has a 52 week low of $1.95 and a 52 week high of $12.43. The stock has a market cap of $8.34 billion, a P/E ratio of -8.11 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million for the quarter, compared to analysts' expectations of $49.70 million. Sell-side analysts predict that ImmunityBio, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 159,478 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of ImmunityBio stock in a transaction 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 completion of the sale, the director directly owned 2,802,788 shares of the company's stock, valued at approximately $22,085,969.44. The trade was 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 worth $3,918,819 over the last ninety days. 66.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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