Clough Capital Partners L P Buys New Stake in ImmunityBio, Inc. $IBRX

Clough Capital Partners L P bought a new stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 94,041 shares of the company’s stock, valued at approximately $721,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. State Street Corp increased its holdings 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. Geode Capital Management LLC raised its stake in shares of ImmunityBio by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 7,920,178 shares of the company’s stock valued at $15,684,000 after purchasing an additional 1,030,113 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ImmunityBio by 439.4% during the fourth 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 in the last quarter. Finally, Woodline Partners LP lifted its holdings in 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 during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

ImmunityBio Stock Performance

Shares of ImmunityBio stock opened at $7.10 on Monday. ImmunityBio, Inc. has a 52 week low of $1.95 and a 52 week high of $12.43. The stock has a market cap of $7.44 billion, a PE ratio of -8.35 and a beta of 0.01. The company’s 50-day moving average price is $7.77 and its two-hundred day moving average price is $7.39.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share 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. On average, equities analysts predict that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at ImmunityBio

In related news, Director Cheryl Cohen sold 131,210 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the completion of the sale, the director directly owned 125,386 shares of the company’s stock, valued at $1,191,167. This represents a 51.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 sale, the director owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 435,443 shares of company stock valued at $3,918,819 over the last ninety days. Insiders own 66.10% of the company’s stock.

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.