Bleakley Financial Group LLC Takes $1.25 Million Position in ImmunityBio, Inc. $IBRX

Bleakley Financial Group LLC bought a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the 1st quarter, Holdings Channel.com reports. The fund bought 163,572 shares of the company’s stock, valued at approximately $1,255,000.

Several other institutional investors have also recently bought and sold shares of IBRX. State Street Corp increased its position in shares of ImmunityBio by 45.4% during the fourth quarter. State Street Corp now owns 16,455,703 shares of the company’s stock valued at $32,582,000 after purchasing an additional 5,139,890 shares during the period. Vanguard Group Inc. raised its holdings in ImmunityBio by 18.5% in the fourth 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. boosted its holdings in shares of ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock valued at $12,182,000 after buying an additional 5,012,001 shares during the period. Woodline Partners LP lifted its position in shares of ImmunityBio by 53.7% in the third quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock worth $13,032,000 after purchasing an additional 1,851,854 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in ImmunityBio by 224.9% during the third quarter. Two Sigma Investments LP now owns 2,607,860 shares of the company’s stock valued at $6,415,000 after purchasing an additional 1,805,297 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Stock Up 3.1%

Shares of IBRX stock opened at $7.68 on Friday. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43. The company has a 50 day moving average of $7.82 and a 200-day moving average of $7.16. The firm has a market cap of $8.04 billion, a P/E ratio of -9.04 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly 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 firm had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. As a group, equities analysts expect that ImmunityBio, Inc. will post -0.31 EPS for the current year.

Insider Activity

In related news, Director Barry J. Simon sold 25,000 shares of the firm’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 transaction, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of the stock in a transaction 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 sale, the director directly owned 35,064 shares of the company’s stock, valued at $316,277.28. The trade was a 81.98% 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 three months, insiders have sold 435,443 shares of company stock valued at $3,918,819. 66.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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