Vanguard Group Inc. Buys 4,342,386 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Vanguard Group Inc. grew its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 42.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,675,687 shares of the company's stock after buying an additional 4,342,386 shares during the quarter. Vanguard Group Inc. owned approximately 2.20% of ImmunityBio worth $24,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Armistice Capital LLC bought a new position in shares of ImmunityBio in the 1st quarter valued at approximately $10,549,000. State Street Corp raised its stake in shares of ImmunityBio by 255.9% in the 3rd quarter. State Street Corp now owns 6,649,331 shares of the company's stock valued at $33,047,000 after acquiring an additional 4,780,807 shares in the last quarter. BlackRock Inc. raised its stake in shares of ImmunityBio by 36.4% in the 2nd quarter. BlackRock Inc. now owns 9,498,666 shares of the company's stock valued at $26,406,000 after acquiring an additional 2,533,147 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ImmunityBio by 40.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,730,452 shares of the company's stock valued at $7,591,000 after acquiring an additional 784,588 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of ImmunityBio by 93.4% in the 2nd quarter. Millennium Management LLC now owns 1,179,785 shares of the company's stock valued at $4,389,000 after acquiring an additional 569,696 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors and hedge funds.

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX traded down $0.95 during trading on Friday, hitting $5.11. 6,881,878 shares of the stock were exchanged, compared to its average volume of 4,222,693. ImmunityBio, Inc. has a 1-year low of $1.25 and a 1-year high of $6.93. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -4.41 and a beta of 1.23. The company's fifty day simple moving average is $5.08 and its 200-day simple moving average is $3.94.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. On average, research analysts forecast that ImmunityBio, Inc. will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price target on ImmunityBio from $4.00 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, March 25th.

About ImmunityBio

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.