Swiss National Bank Has $1.24 Million Position in 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 lifted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 49.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 410,400 shares of the company's stock after buying an additional 136,400 shares during the period. Swiss National Bank's holdings in ImmunityBio were worth $1,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thrive Wealth Management LLC bought a new stake in ImmunityBio during the first quarter worth approximately $30,000. Slow Capital Inc. bought a new stake in shares of ImmunityBio during the 1st quarter worth $30,000. Xponance Inc. bought a new stake in shares of ImmunityBio during the 1st quarter worth $33,000. GF Fund Management CO. LTD. bought a new stake in shares of ImmunityBio during the 4th quarter worth $37,000. Finally, Waverly Advisors LLC bought a new stake in shares of ImmunityBio during the 4th quarter worth $38,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX traded down $0.01 during mid-day trading on Thursday, reaching $2.33. The company had a trading volume of 6,455,616 shares, compared to its average volume of 9,098,742. The stock has a market capitalization of $2.20 billion, a PE ratio of -4.85 and a beta of 0.12. ImmunityBio, Inc. has a twelve month low of $1.83 and a twelve month high of $7.48. The stock's 50 day moving average is $2.61 and its 200-day moving average is $2.75.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $26.43 million for the quarter, compared to analyst estimates of $21.95 million. On average, sell-side analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several research reports. Piper Sandler raised ImmunityBio from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a research note on Wednesday, June 4th. Finally, D. Boral Capital reissued a "buy" rating and set a $24.00 target price on shares of ImmunityBio in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, ImmunityBio has an average rating of "Buy" and a consensus price target of $10.75.

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.