Lido Advisors LLC Sells 128,565 Shares of ImmunityBio, Inc. $IBRX

Lido Advisors LLC trimmed its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 90.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,784 shares of the company’s stock after selling 128,565 shares during the quarter. Lido Advisors LLC’s holdings in ImmunityBio were worth $106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBRX. State Street Corp increased its stake in ImmunityBio by 45.4% during the fourth quarter. State Street Corp now owns 16,455,703 shares of the company’s stock worth $32,582,000 after acquiring an additional 5,139,890 shares during the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 5,122,052 shares during the period. Goldman Sachs Group Inc. increased its position in shares of ImmunityBio by 439.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock valued at $12,182,000 after purchasing an additional 5,012,001 shares during the last quarter. SEB Asset Management AB bought a new position in shares of ImmunityBio during the 1st quarter valued at approximately $18,770,000. Finally, Woodline Partners LP raised its holdings in ImmunityBio by 53.7% during the 3rd quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock valued at $13,032,000 after buying an additional 1,851,854 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the director owned 125,386 shares of the company’s stock, valued at approximately $1,191,167. This represents a 51.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were 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 in the company, valued at approximately $22,085,969.44. This represents a 0.88% 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. In the last ninety days, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is currently owned by company insiders.

ImmunityBio Stock Performance

ImmunityBio stock opened at $7.15 on Tuesday. The company has a market capitalization of $7.49 billion, a PE ratio of -8.41 and a beta of 0.03. The company has a 50 day moving average price of $7.70 and a 200-day moving average price of $7.59. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data 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 company had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. On average, analysts forecast that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

IBRX has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a research report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of ImmunityBio in a report on Tuesday, May 5th. Six 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 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.