ImmunityBio, Inc. $IBRX Stock Acquired by Doliver Advisors LP

Key Points

• Doliver Advisors LP more than doubled its ImmunityBio stake in the third quarter, adding 110,000 shares to hold 210,000 shares worth approximately $1.98 million. Other major investors, including BlackRock and State Street, also increased their positions.
• Analyst sentiment is generally positive, with one Strong Buy, five Buy, and one Sell rating; the stock has an average “Moderate Buy” rating and a consensus price target of $14.20.
• ImmunityBio shares fell 1.7% to $9.28, while the company’s latest quarterly results showed a loss of $0.22 per share—worse than the expected $0.08 loss—despite revenue exceeding estimates.

Doliver Advisors LP increased its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 110.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the company's stock after purchasing an additional 110,000 shares during the period. Doliver Advisors LP's holdings in ImmunityBio were worth $1,982,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in ImmunityBio by 29.4% in the second quarter. BlackRock Inc. now owns 34,083,262 shares of the company's stock valued at $298,399,000 after buying an additional 7,736,819 shares in the last quarter. State Street Corp boosted its position in shares of ImmunityBio by 20.8% during the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company's stock worth $187,343,000 after acquiring an additional 3,690,335 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of ImmunityBio during the 2nd quarter worth about $19,125,000. SEB Asset Management AB purchased a new position in shares of ImmunityBio in the 1st quarter valued at about $18,770,000. Finally, Private Advisor Group LLC increased its holdings in shares of ImmunityBio by 923.5% in the 1st quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company's stock valued at $12,644,000 after acquiring an additional 1,487,482 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company's stock.

Analysts Set New Price Targets

IBRX has been the subject of several recent analyst reports. Jefferies Financial Group upgraded ImmunityBio to a "strong-buy" rating in a research note on Friday, September 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $14.20.

ImmunityBio Stock Down 1.7%

IBRX traded down $0.16 on Thursday, reaching $9.28. The company had a trading volume of 12,298,572 shares, compared to its average volume of 20,760,051. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The stock has a market capitalization of $9.84 billion, a PE ratio of -9.57 and a beta of 0.04. The stock has a 50-day moving average price of $7.92 and a 200-day moving average price of $7.82.

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

ImmunityBio Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body's immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.

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