First Trust Advisors LP Sells 589,609 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

First Trust Advisors LP lessened its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 77.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,200 shares of the company's stock after selling 589,609 shares during the quarter. First Trust Advisors LP's holdings in ImmunityBio were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at $26,000. Cibc World Markets Corp bought a new stake in shares of ImmunityBio during the fourth quarter valued at approximately $35,000. Maia Wealth LLC bought a new position in ImmunityBio during the fourth quarter valued at approximately $37,000. Schechter Investment Advisors LLC purchased a new stake in shares of ImmunityBio during the fourth quarter worth about $38,000. Finally, Mutual Advisors LLC bought a new position in ImmunityBio in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 8.58% of the company's stock.

ImmunityBio Stock Up 6.4%

Shares of ImmunityBio stock traded up $0.15 on Tuesday, reaching $2.51. The company's stock had a trading volume of 14,829,771 shares, compared to its average volume of 5,436,287. The firm's fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $3.35. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -2.73 and a beta of 0.33. ImmunityBio, Inc. has a 52 week low of $1.83 and a 52 week high of $9.16.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.15) earnings per share 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, research analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBRX shares. HC Wainwright reissued a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a research note on Monday. D. Boral Capital restated a "buy" rating and issued a $30.00 price objective on shares of ImmunityBio in a report on Monday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $12.19.

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.