182,763 Shares in ImmunityBio, Inc. $IBRX Bought by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 182,763 shares of the company’s stock, valued at approximately $1,602,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of ImmunityBio by 193.4% during the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock valued at $134,000 after acquiring an additional 29,297 shares during the last quarter. Creative Planning increased its position in shares of ImmunityBio by 9.2% in the second quarter. Creative Planning now owns 62,028 shares of the company’s stock worth $164,000 after purchasing an additional 5,231 shares during the last quarter. Cetera Investment Advisers increased its position in shares of ImmunityBio by 56.9% in the second quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock worth $49,000 after purchasing an additional 6,731 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ImmunityBio by 5.2% in the second quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock valued at $2,829,000 after purchasing an additional 52,782 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in ImmunityBio by 11.8% in the second quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock valued at $542,000 after purchasing an additional 21,715 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on IBRX shares. BTIG Research reissued a “buy” rating and issued a $12.00 price target on shares of ImmunityBio in a research note 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 set a $15.00 price objective on shares of ImmunityBio in a research report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

Insiders Place Their Bets

In other ImmunityBio news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction that occurred 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 transaction, the director directly owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. This trade represents a 81.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director owned 2,802,788 shares of the company’s stock, valued at approximately $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 412,410 shares of company stock valued at $3,753,442 over the last quarter. 66.10% of the stock is owned by corporate insiders.

ImmunityBio Trading Up 3.0%

IBRX opened at $8.19 on Friday. The stock has a 50-day moving average price of $7.91 and a 200-day moving average price of $7.88. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43. The stock has a market capitalization of $8.68 billion, a P/E ratio of -8.44 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $51.24 million during the quarter, compared to the consensus estimate of $49.70 million. On average, equities research analysts predict that ImmunityBio, Inc. will post -0.44 EPS for the current year.

About ImmunityBio

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.