Ghisallo Capital Management LLC Purchases Shares of 500,000 ImmunityBio, Inc. (NASDAQ:IBRX)

Ghisallo Capital Management LLC acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $1,280,000. Ghisallo Capital Management LLC owned 0.07% of ImmunityBio at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Virtus ETF Advisers LLC grew its stake in ImmunityBio by 105.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 115,018 shares of the company's stock valued at $294,000 after purchasing an additional 58,911 shares during the period. Dark Forest Capital Management LP bought a new position in ImmunityBio in the 4th quarter valued at $64,000. Hsbc Holdings PLC bought a new position in ImmunityBio in the 4th quarter valued at $44,000. Tower Research Capital LLC TRC grew its stake in ImmunityBio by 1,010.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 50,799 shares of the company's stock valued at $130,000 after purchasing an additional 46,223 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of ImmunityBio by 43.3% during the 4th quarter. MetLife Investment Management LLC now owns 89,393 shares of the company's stock worth $229,000 after acquiring an additional 27,028 shares during the period. Institutional investors own 8.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IBRX shares. BTIG Research started coverage on ImmunityBio in a research note on Friday, January 10th. They set a "buy" rating and a $6.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a research note on Monday. Finally, D. Boral Capital reiterated a "buy" rating and set a $30.00 price target on shares of ImmunityBio in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.19.

ImmunityBio Stock Down 1.8 %

IBRX traded down $0.05 during trading on Thursday, reaching $2.47. 1,885,503 shares of the company were exchanged, compared to its average volume of 6,254,364. The company's 50-day moving average is $2.80 and its two-hundred day moving average is $3.45. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -2.68 and a beta of 0.51. ImmunityBio, Inc. has a 12-month low of $2.28 and a 12-month high of $10.01.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analysts' expectations of $8.74 million. Equities analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

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.