JPMorgan Chase & Co. Has $2.67 Million Position in ImmunityBio, Inc. (NASDAQ:IBRX)

JPMorgan Chase & Co. trimmed its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,041,863 shares of the company's stock after selling 99,048 shares during the quarter. JPMorgan Chase & Co. owned 0.15% of ImmunityBio worth $2,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of ImmunityBio by 127.4% during the third quarter. Barclays PLC now owns 361,036 shares of the company's stock worth $1,344,000 after purchasing an additional 202,248 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ImmunityBio by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock worth $44,360,000 after purchasing an additional 425,713 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of ImmunityBio by 71.2% during the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock worth $236,000 after purchasing an additional 38,400 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of ImmunityBio during the fourth quarter worth $58,000. Finally, Stephens Inc. AR bought a new position in shares of ImmunityBio during the fourth quarter worth $26,000. 8.58% of the stock is owned by institutional investors.

ImmunityBio Price Performance

IBRX stock traded up $0.02 during midday trading on Monday, hitting $2.63. The company's stock had a trading volume of 3,688,241 shares, compared to its average volume of 5,528,748. ImmunityBio, Inc. has a twelve month low of $2.28 and a twelve month high of $10.53. The company's fifty day moving average price is $2.84 and its 200 day moving average price is $3.46. The stock has a market capitalization of $2.24 billion, a P/E ratio of -2.86 and a beta of 0.51.

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

Analysts Set New Price Targets

A number of brokerages recently commented on IBRX. BTIG Research began coverage on shares of ImmunityBio in a report on Friday, January 10th. They set a "buy" rating and a $6.00 price objective on the stock. D. Boral Capital restated a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a report on Wednesday, April 23rd. Finally, HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a report on Monday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.