Plancorp LLC Takes Position in ImmunityBio, Inc. $IBRX

Key Points

• Plancorp LLC has purchased a new stake in ImmunityBio, Inc. (NASDAQ: IBRX), acquiring 271,458 shares valued around $717,000.
• ImmunityBio's stock has recently experienced a decline of 1.6%, with current trading around $2.46, amidst a rough 52-week range of $1.83 to $7.48.
• Analysts maintain an overall “buy” rating for ImmunityBio shares, with price targets ranging significantly from $8.00 to $24.00, and an average target of $10.75.

Plancorp LLC bought a new stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 271,458 shares of the company's stock, valued at approximately $717,000.

Other large investors also recently modified their holdings of the company. Financial Enhancement Group LLC acquired a new stake in shares of ImmunityBio during the second quarter valued at about $28,000. Thrive Wealth Management LLC acquired a new stake in shares of ImmunityBio during the first quarter valued at about $30,000. Slow Capital Inc. acquired a new stake in shares of ImmunityBio during the first quarter valued at about $30,000. Compound Planning Inc. acquired a new stake in shares of ImmunityBio during the first quarter valued at about $30,000. Finally, Xponance Inc. acquired a new position in ImmunityBio in the first quarter worth about $33,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

ImmunityBio Stock Down 1.6%

Shares of IBRX stock opened at $2.46 on Friday. The business has a 50 day moving average of $2.53 and a two-hundred day moving average of $2.66. ImmunityBio, Inc. has a 52 week low of $1.83 and a 52 week high of $7.48. The company has a market cap of $2.33 billion, a P/E ratio of -5.12 and a beta of 0.30.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, meeting analysts' consensus estimates of ($0.10). The company had revenue of $26.43 million during the quarter, compared to analyst estimates of $21.95 million. Analysts expect that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

IBRX has been the subject of several research analyst reports. D. Boral Capital reissued a "buy" rating and issued a $24.00 price objective on shares of ImmunityBio in a report on Monday, September 8th. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $10.75.

About ImmunityBio

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.

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