UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in ImmunityBio, Inc. (NASDAQ:IBRX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 83.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,734 shares of the company's stock after selling 1,283,068 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in ImmunityBio were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at $26,000. New York State Common Retirement Fund raised its stake in shares of ImmunityBio by 62.8% during the fourth quarter. New York State Common Retirement Fund now owns 32,418 shares of the company's stock worth $83,000 after purchasing an additional 12,500 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of ImmunityBio by 71.2% during the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock worth $236,000 after purchasing an additional 38,400 shares during the period. Crestwood Advisors Group LLC purchased a new position in ImmunityBio in the 4th quarter valued at $41,000. Finally, Maia Wealth LLC acquired a new position in ImmunityBio in the 4th quarter valued at $37,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Trading Down 1.5%

Shares of NASDAQ IBRX traded down $0.05 during trading on Thursday, reaching $3.19. The company had a trading volume of 8,664,975 shares, compared to its average volume of 5,976,891. ImmunityBio, Inc. has a twelve month low of $1.83 and a twelve month high of $7.63. The stock has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $3.01. The stock has a market capitalization of $2.82 billion, a PE ratio of -3.47 and a beta of 0.14.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $16.52 million for the quarter, compared to analyst estimates of $17.50 million. On average, sell-side analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IBRX. Piper Sandler upgraded shares of 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 note on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of ImmunityBio in a report on Wednesday, June 4th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Tuesday, June 3rd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $12.25.

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.