Clough Capital Partners L P Takes $721,000 Position in ImmunityBio, Inc. $IBRX

Clough Capital Partners L P purchased a new position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 94,041 shares of the company’s stock, valued at approximately $721,000.

A number of other hedge funds have also bought and sold shares of the company. Swiss Life Asset Management Ltd acquired a new stake in ImmunityBio during the third quarter valued at approximately $27,000. WealthPlan Investment Management LLC bought a new position in ImmunityBio during the 4th quarter worth approximately $27,000. Diversify Advisory Services LLC acquired a new position in shares of ImmunityBio in the 2nd quarter worth approximately $27,000. Kovack Advisors Inc. acquired a new position in shares of ImmunityBio in the 4th quarter worth approximately $27,000. Finally, Cherry Creek Investment Advisors Inc. bought a new stake in shares of ImmunityBio in the 4th quarter valued at approximately $28,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ImmunityBio

In other news, Director Christobel Selecky sold 159,478 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the transaction, the director owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the transaction, the director owned 125,386 shares of the company’s stock, valued at $1,191,167. This represents a 51.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IBRX has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. D. Boral Capital reiterated a “buy” rating and set a $23.00 target price on shares of ImmunityBio in a research note on Tuesday, May 5th. Finally, BTIG Research restated a “buy” rating and issued a $12.00 price target on shares of ImmunityBio in a research report on Thursday, May 21st. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ImmunityBio presently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $7.10 on Monday. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -8.35 and a beta of 0.01. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43. The stock’s 50 day simple moving average is $7.77 and its 200 day simple moving average is $7.39.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.07 million. As a group, equities analysts forecast that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.

ImmunityBio Company Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.