Swiss National Bank Buys 136,400 Shares of ImmunityBio, Inc. $IBRX

Key Points

• The Swiss National Bank increased its stake in ImmunityBio, Inc. by 49.8%, acquiring an additional 136,400 shares and bringing its total holdings to 410,400 shares valued at $1,235,000.
• Vanguard Group Inc. raised its investment in ImmunityBio by 17.4%, now owning over 20 million shares worth approximately $61 million.
• ImmunityBio's stock has a current price target range by analysts from $5.00 to $24.00, with an average rating of "Buy."

Swiss National Bank grew its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 49.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,400 shares of the company's stock after purchasing an additional 136,400 shares during the quarter. Swiss National Bank's holdings in ImmunityBio were worth $1,235,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBRX. Thrive Wealth Management LLC bought a new position in ImmunityBio in the 1st quarter worth $30,000. Slow Capital Inc. bought a new position in ImmunityBio in the 1st quarter worth $30,000. Xponance Inc. bought a new position in ImmunityBio in the 1st quarter worth $33,000. GF Fund Management CO. LTD. bought a new position in ImmunityBio in the 4th quarter worth $37,000. Finally, Waverly Advisors LLC bought a new position in shares of ImmunityBio in the 4th quarter worth about $38,000. 8.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IBRX. HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of ImmunityBio in a research note on Wednesday, June 4th. D. Boral Capital reiterated a "buy" rating and issued a $24.00 price target on shares of ImmunityBio in a research note on Tuesday, August 26th. Finally, Piper Sandler upgraded shares of ImmunityBio from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $10.75.

ImmunityBio Trading Up 0.4%

NASDAQ:IBRX traded up $0.01 on Friday, reaching $2.34. 5,620,248 shares of the stock traded hands, compared to its average volume of 8,954,742. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.87 and a beta of 0.30. ImmunityBio, Inc. has a 12 month low of $1.83 and a 12 month high of $7.48. The company's fifty day simple moving average is $2.60 and its 200 day simple moving average is $2.74.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.10). The firm had revenue of $26.43 million for the quarter, compared to the consensus estimate of $21.95 million. Equities analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

ImmunityBio 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.