Vanguard Group Inc. Grows Holdings in ImmunityBio, Inc. $IBRX

Key Points

• Vanguard Group Inc. has increased its stake in ImmunityBio, Inc. by 17.4% during Q1, owning 20,344,554 shares valued at approximately $61.2 million.
• ImmunityBio's stock price reached $2.38 with an average trading volume of nearly 12 million shares, despite a 50-day moving average price of $2.63.
• Equities analysts maintain a positive outlook on ImmunityBio, with an average rating of "Buy" and a consensus price target of $10.75.

Vanguard Group Inc. boosted its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,344,554 shares of the company's stock after acquiring an additional 3,016,325 shares during the quarter. Vanguard Group Inc. owned 2.31% of ImmunityBio worth $61,237,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Slow Capital Inc. purchased a new position in ImmunityBio during the first quarter valued at approximately $30,000. Thrive Wealth Management LLC purchased a new position in ImmunityBio during the first quarter valued at approximately $30,000. Xponance Inc. purchased a new position in ImmunityBio during the first quarter valued at approximately $33,000. GF Fund Management CO. LTD. purchased a new position in ImmunityBio during the fourth quarter worth approximately $37,000. Finally, Waverly Advisors LLC purchased a new position in ImmunityBio during the fourth quarter worth approximately $38,000. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBRX. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, June 4th. D. Boral Capital reissued a "buy" rating and issued a $24.00 target price on shares of ImmunityBio in a research note on Tuesday. Finally, Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $10.75.

ImmunityBio Stock Up 0.4%

Shares of ImmunityBio stock traded up $0.01 during mid-day trading on Friday, hitting $2.34. The stock had a trading volume of 5,620,248 shares, compared to its average volume of 9,024,839. The firm has a 50-day moving average of $2.60 and a two-hundred day moving average of $2.74. ImmunityBio, Inc. has a 12-month low of $1.83 and a 12-month high of $7.48. The firm has a market cap of $2.21 billion, a P/E ratio of -4.87 and a beta of 0.12.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $26.43 million during the quarter, compared to analysts' expectations of $21.95 million. Sell-side analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current 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.