ImmunityBio, Inc. $IBRX Shares Acquired by Vanguard Group Inc.

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. raised its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 17.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,344,554 shares of the company's stock after purchasing an additional 3,016,325 shares during the period. Vanguard Group Inc. owned 2.31% of ImmunityBio worth $61,237,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. XTX Topco Ltd increased its position in ImmunityBio by 5.4% during the first quarter. XTX Topco Ltd now owns 111,647 shares of the company's stock worth $336,000 after buying an additional 5,764 shares during the period. Meeder Advisory Services Inc. purchased a new position in shares of ImmunityBio during the first quarter worth approximately $48,000. Dauntless Investment Group LLC acquired a new position in shares of ImmunityBio in the 1st quarter valued at $283,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ImmunityBio by 42.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,992 shares of the company's stock worth $132,000 after purchasing an additional 13,139 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC increased its stake in ImmunityBio by 41.8% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 58,700 shares of the company's stock valued at $177,000 after purchasing an additional 17,300 shares during the period. Institutional investors and hedge funds own 8.58% of the company's stock.

ImmunityBio Stock Performance

Shares of IBRX traded up $0.13 during midday trading on Tuesday, hitting $2.38. 11,924,453 shares of the stock traded hands, compared to its average volume of 8,906,729. The business's 50 day moving average price is $2.63 and its two-hundred day moving average price is $2.76. The firm has a market capitalization of $2.25 billion, a PE ratio of -4.96 and a beta of 0.12. ImmunityBio, Inc. has a 1-year low of $1.83 and a 1-year high of $7.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.10). The business had revenue of $26.43 million during the quarter, compared to the consensus estimate of $21.95 million. As a group, equities research analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IBRX shares. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a report on Wednesday, June 4th. Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, May 20th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $24.00 price objective on shares of ImmunityBio in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, ImmunityBio currently has an average rating of "Buy" and a consensus price target of $10.75.

ImmunityBio Company 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.