D.A. Davidson & CO. Acquires New Stake in ImmunityBio, Inc. $IBRX

D.A. Davidson & CO. bought a new position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 558,209 shares of the company’s stock, valued at approximately $4,281,000.

A number of other institutional investors have also added to or reduced their stakes in the business. 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. 8.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Christobel Selecky sold 159,478 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 in the company, valued at approximately $316,277.28. The trade was a 81.98% decrease in their position. The sale 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 company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director directly owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 435,443 shares of company stock valued at $3,918,819. 66.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IBRX has been the subject of a number of research reports. 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. 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. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Friday, July 10th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.20.

ImmunityBio Trading Up 3.1%

Shares of ImmunityBio stock opened at $7.68 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of -9.04 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 business’s 50-day moving average price is $7.82 and its 200-day moving average price is $7.16.

ImmunityBio (NASDAQ:IBRX) last issued its 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 business had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.07 million. As a group, analysts predict 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.