ImmunityBio, Inc. (NASDAQ:IBRX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 83.1% during the 4th quarter, according to the company in 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 period. 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 quarter.

Other hedge funds have also bought and sold shares of the company. Stephens Inc. AR purchased a new position in shares of ImmunityBio during the 4th quarter valued at approximately $26,000. Cibc World Markets Corp purchased a new position in shares of ImmunityBio during the 4th quarter valued at approximately $35,000. Maia Wealth LLC purchased a new position in shares of ImmunityBio during the 4th quarter valued at approximately $37,000. Schechter Investment Advisors LLC purchased a new position in shares of ImmunityBio during the 4th quarter valued at approximately $38,000. Finally, Waverly Advisors LLC purchased a new position in shares of ImmunityBio during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 8.58% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IBRX. D. Boral Capital reiterated a "buy" rating and set a $30.00 target price on shares of ImmunityBio in a research report on Tuesday, June 3rd. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, June 4th. Finally, Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $12.25.

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX traded down $0.12 during midday trading on Friday, hitting $3.07. The company's stock had a trading volume of 16,714,739 shares, compared to its average volume of 6,046,622. ImmunityBio, Inc. has a 12-month low of $1.83 and a 12-month high of $7.63. The company has a market cap of $2.71 billion, a P/E ratio of -3.34 and a beta of 0.14. The business's 50 day simple moving average is $2.63 and its 200 day simple moving average is $2.97.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released 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 analysts' expectations of $17.50 million. On average, sell-side analysts predict that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

ImmunityBio Profile

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.