Hussman Strategic Advisors Inc. Makes New Investment in ImmunityBio, Inc. $IBRX

Hussman Strategic Advisors Inc. acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 147,000 shares of the company’s stock, valued at approximately $1,287,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Doliver Advisors LP raised its stake in shares of ImmunityBio by 100.0% during the 2nd quarter. Doliver Advisors LP now owns 100,000 shares of the company’s stock worth $876,000 after buying an additional 50,000 shares during the period. Strategic Investment Solutions Inc. IL lifted its position in shares of ImmunityBio by 2,374.7% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 11,037 shares of the company’s stock valued at $97,000 after buying an additional 10,591 shares in the last quarter. Collective Family Office LLC lifted its position in shares of ImmunityBio by 3.1% during the 2nd quarter. Collective Family Office LLC now owns 157,200 shares of the company’s stock valued at $1,376,000 after buying an additional 4,693 shares in the last quarter. Vestor Capital LLC acquired a new stake in ImmunityBio in the 1st quarter valued at $88,000. Finally, Arete Wealth Advisors LLC acquired a new stake in ImmunityBio in the 1st quarter valued at $4,500,000. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 159,478 shares of the firm’s 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 $316,277.28. This trade represents a 81.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total value 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 ownership of the stock. 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. Insiders sold a total of 435,443 shares of company stock worth $3,918,819 in the last three months. 66.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

ImmunityBio Price Performance

IBRX opened at $7.57 on Friday. The company’s 50 day simple moving average is $7.70 and its two-hundred day simple moving average is $7.69. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of -7.80 and a beta of 0.03. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43.

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