Wealth Effects LLC Raises Stake in ImmunityBio, Inc. (NASDAQ:IBRX)

Wealth Effects LLC grew its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,500 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Wealth Effects LLC’s holdings in ImmunityBio were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IBRX. Bleakley Financial Group LLC bought a new stake in ImmunityBio in the first quarter worth $58,000. Lazard Asset Management LLC lifted its stake in shares of ImmunityBio by 102.6% in the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock valued at $68,000 after acquiring an additional 6,593 shares during the last quarter. Algert Global LLC purchased a new stake in ImmunityBio during the 2nd quarter valued at about $86,000. Axxcess Wealth Management LLC bought a new position in ImmunityBio during the 1st quarter worth approximately $85,000. Finally, Simplicity Wealth LLC lifted its position in ImmunityBio by 46.0% in the second quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock valued at $100,000 after purchasing an additional 4,983 shares during the last quarter. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Trading Down 1.1 %

Shares of IBRX stock traded down $0.04 during trading hours on Monday, reaching $3.51. The company’s stock had a trading volume of 515,548 shares, compared to its average volume of 4,425,894. ImmunityBio, Inc. has a one year low of $1.28 and a one year high of $10.53. The stock has a market capitalization of $2.43 billion, a P/E ratio of -3.26 and a beta of 1.02. The firm’s fifty day simple moving average is $3.72 and its 200 day simple moving average is $5.41.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $2.53 million. As a group, equities research analysts forecast that ImmunityBio, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research report on Monday, August 19th.

ImmunityBio Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.