Pictet Asset Management Holding SA Has $6.37 Million Stock Position in ImmunityBio, Inc. $IBRX

Key Points

• Pictet Asset Management Holding SA dramatically increased its ImmunityBio stake by 2,365.7% in the first quarter, ending with 830,137 shares valued at about $6.37 million.
• Wall Street sentiment is mixed but generally positive: six analysts rate IBRX a Buy, one a Sell, with a consensus Moderate Buy and average price target of $14.20.
• ImmunityBio recently reported a quarterly EPS loss of $0.62, worse than expected, while revenue of $44.21 million slightly topped estimates; meanwhile, company insiders have been selling shares in recent weeks.

Pictet Asset Management Holding SA lifted its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 2,365.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 830,137 shares of the company's stock after acquiring an additional 796,470 shares during the period. Pictet Asset Management Holding SA owned approximately 0.08% of ImmunityBio worth $6,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mariner LLC boosted its stake in ImmunityBio by 10.5% during the 4th quarter. Mariner LLC now owns 17,814 shares of the company's stock valued at $35,000 after purchasing an additional 1,689 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of ImmunityBio by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock worth $59,000 after purchasing an additional 1,918 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ImmunityBio by 8.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock worth $57,000 after purchasing an additional 2,271 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of ImmunityBio by 9.0% in the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of ImmunityBio by 4.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company's stock valued at $150,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBRX. D. Boral Capital reiterated a "buy" rating and set a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a research note on Tuesday, April 14th. BTIG Research reaffirmed a "buy" rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.20.

ImmunityBio Price Performance

ImmunityBio stock opened at $9.44 on Friday. ImmunityBio, Inc. has a 52 week low of $1.95 and a 52 week high of $12.43. The company's 50 day moving average price is $7.71 and its two-hundred day moving average price is $6.74. The stock has a market cap of $9.89 billion, a P/E ratio of -11.11 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The firm had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. On average, equities analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christobel Selecky sold 95,722 shares of ImmunityBio stock in a transaction on Monday, June 29th. The stock was sold at an average price of $9.01, for a total transaction of $862,455.22. Following the sale, the director directly owned 32,173 shares in the company, valued at $289,878.73. The trade was a 74.84% decrease in their position. The transaction was disclosed in a document filed 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 the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,755 shares of company stock valued at $1,233,832 in the last 90 days. Corporate insiders own 66.10% of the company's stock.

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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