Clearwater Capital Advisors LLC Grows Stock Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Clearwater Capital Advisors LLC boosted its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 75.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 846,419 shares of the company’s stock after buying an additional 363,870 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in ImmunityBio were worth $2,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after purchasing an additional 790,408 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ImmunityBio by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,276,673 shares of the company’s stock worth $3,268,000 after buying an additional 10,692 shares during the period. Barclays PLC lifted its stake in shares of ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after acquiring an additional 202,248 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in ImmunityBio by 9.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 295,950 shares of the company’s stock valued at $793,000 after acquiring an additional 25,000 shares during the period. Finally, Swiss National Bank grew its holdings in shares of ImmunityBio by 1.5% in the fourth quarter. Swiss National Bank now owns 274,000 shares of the company’s stock worth $701,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a report on Thursday. Finally, BTIG Research assumed coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $12.19.

ImmunityBio Stock Down 1.0 %

Shares of IBRX stock opened at $2.87 on Monday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -3.12 and a beta of 0.82. ImmunityBio, Inc. has a 52-week low of $2.28 and a 52-week high of $10.53. The company’s 50 day moving average is $3.08 and its 200 day moving average is $3.66.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $8.74 million. Analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

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.