Legal & General Group Plc Acquires Shares of 278,274 ImmunityBio, Inc. $IBRX

Legal & General Group Plc bought a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 278,274 shares of the company’s stock, valued at approximately $2,436,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Western Wealth Management LLC bought a new position in ImmunityBio in the 1st quarter worth approximately $44,000. Geneos Wealth Management Inc. lifted its position in shares of ImmunityBio by 579.3% during the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock worth $44,000 after acquiring an additional 4,907 shares in the last quarter. Archer Investment Corp boosted its holdings in shares of ImmunityBio by 67.1% in the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock worth $45,000 after acquiring an additional 2,358 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of ImmunityBio in the second quarter valued at $60,000. Finally, Fifth Third Bancorp grew its position in shares of ImmunityBio by 3,372.2% in the second quarter. Fifth Third Bancorp now owns 7,500 shares of the company’s stock valued at $66,000 after purchasing an additional 7,284 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.

Insider Activity at ImmunityBio

In other ImmunityBio news, Director Cheryl Cohen sold 131,210 shares of the stock in a transaction on 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 sale, the director directly owned 125,386 shares in the company, valued at approximately $1,191,167. This trade represents a 51.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction on 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 completion of the sale, the director directly owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. The trade was 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. Insiders sold a total of 412,410 shares of company stock valued at $3,753,442 in the last 90 days. Corporate insiders own 66.10% of the company’s stock.

ImmunityBio Price Performance

Shares of ImmunityBio stock opened at $8.08 on Friday. ImmunityBio, Inc. has a one year low of $1.95 and a one year high of $12.43. The business’s 50 day simple moving average is $7.90 and its two-hundred day simple moving average is $7.88. The stock has a market capitalization of $8.56 billion, a P/E ratio of -8.33 and a beta of 0.04.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to analyst estimates of $49.70 million. Sell-side analysts expect that ImmunityBio, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IBRX has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a report on Tuesday, June 2nd. BTIG Research reiterated a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a research report on Thursday, May 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. Six equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

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.