Retirement Planning Group LLC Buys New Stake in ImmunityBio, Inc. $IBRX

Retirement Planning Group LLC purchased a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,422 shares of the company’s stock, valued at approximately $617,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of ImmunityBio by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock worth $64,899,000 after buying an additional 5,122,052 shares in the last quarter. State Street Corp boosted its stake in ImmunityBio by 45.4% in the 4th quarter. State Street Corp now owns 16,455,703 shares of the company’s stock valued at $32,582,000 after buying an additional 5,139,890 shares in the last quarter. Geode Capital Management LLC boosted its stake in ImmunityBio by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 7,920,178 shares of the company’s stock valued at $15,684,000 after buying an additional 1,030,113 shares in the last quarter. Heights Capital Management Inc. bought a new stake in ImmunityBio in the third quarter valued at $16,152,000. Finally, Goldman Sachs Group Inc. grew its position in ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock valued at $12,182,000 after acquiring an additional 5,012,001 shares during the period. 8.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX opened at $7.73 on Thursday. ImmunityBio, Inc. has a twelve month low of $1.95 and a twelve month high of $12.43. The firm has a market cap of $8.10 billion, a PE ratio of -9.09 and a beta of 0.01. The business has a fifty day moving average of $7.85 and a 200-day moving average of $7.12.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The firm had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.07 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity at ImmunityBio

In other ImmunityBio news, Director Barry J. Simon sold 25,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total value of $197,000.00. Following the transaction, the director owned 2,802,788 shares of the company’s stock, valued at approximately $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a 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 Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total value of $1,438,491.56. Following the transaction, the director owned 35,064 shares in the company, valued at approximately $316,277.28. This trade represents a 81.98% 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 quarter, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by insiders.

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.