Tang Capital Management LLC purchased a new stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,814,192 shares of the company's stock, valued at approximately $7,204,000. Tang Capital Management LLC owned approximately 0.40% of ImmunityBio as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Stephens Inc. AR bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $26,000. Cibc World Markets Corp purchased a new position in ImmunityBio during the 4th quarter valued at about $35,000. Maia Wealth LLC purchased a new position in ImmunityBio during the 4th quarter valued at about $37,000. Schechter Investment Advisors LLC purchased a new stake in ImmunityBio in the fourth quarter worth about $38,000. Finally, Ameriprise Financial Inc. purchased a new stake in ImmunityBio in the fourth quarter worth about $38,000. Institutional investors own 8.58% of the company's stock.
ImmunityBio Stock Down 8.6%
Shares of NASDAQ IBRX traded down $0.25 during midday trading on Wednesday, hitting $2.65. The stock had a trading volume of 9,674,631 shares, compared to its average volume of 5,540,584. The business's 50 day moving average is $2.64 and its 200-day moving average is $3.25. The company has a market cap of $2.34 billion, a P/E ratio of -2.88 and a beta of 0.33. ImmunityBio, Inc. has a 52 week low of $1.83 and a 52 week high of $7.63.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $16.52 million for the quarter, compared to analysts' expectations of $17.50 million. As a group, analysts expect that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Piper Sandler raised ImmunityBio from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $4.25 to $5.00 in a research report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a research note on Monday, May 12th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Monday, May 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.25.
Get Our Latest Research Report on IBRX
About ImmunityBio
(
Free Report)
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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