Franklin Resources Inc. Sells 105,756 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Franklin Resources Inc. lessened its position in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 54.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,686 shares of the company's stock after selling 105,756 shares during the period. Franklin Resources Inc.'s holdings in ImmunityBio were worth $227,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in shares of ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company's stock valued at $32,195,000 after acquiring an additional 790,408 shares during the last quarter. Barclays PLC increased its holdings in shares of ImmunityBio by 127.4% in the third quarter. Barclays PLC now owns 361,036 shares of the company's stock valued at $1,344,000 after purchasing an additional 202,248 shares in the last quarter. Vanguard Group Inc. boosted its position in ImmunityBio by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock valued at $44,360,000 after buying an additional 425,713 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of ImmunityBio by 71.2% during the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock valued at $236,000 after acquiring an additional 38,400 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in ImmunityBio during the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 8.58% of the company's stock.

ImmunityBio Trading Down 0.9 %

Shares of IBRX stock traded down $0.03 on Thursday, hitting $2.67. The stock had a trading volume of 1,304,101 shares, compared to its average volume of 6,415,917. The firm has a market cap of $2.27 billion, a P/E ratio of -2.90 and a beta of 0.51. ImmunityBio, Inc. has a twelve month low of $2.28 and a twelve month high of $10.53. The company has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $3.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. On average, analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBRX. BTIG Research began coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 price objective on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a research note on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $12.19.

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.