Clearwater Capital Advisors LLC Acquires 363,870 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Clearwater Capital Advisors LLC lifted its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 75.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 846,419 shares of the company's stock after purchasing an additional 363,870 shares during the period. Clearwater Capital Advisors LLC owned 0.12% of ImmunityBio worth $2,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP raised its stake in ImmunityBio by 290.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,985 shares of the company's stock valued at $402,000 after acquiring an additional 80,318 shares during the period. Intech Investment Management LLC bought a new position in shares of ImmunityBio in the third quarter valued at about $253,000. Charles Schwab Investment Management Inc. increased its stake in shares of ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company's stock worth $4,709,000 after purchasing an additional 29,665 shares during the period. Advantage Alpha Capital Partners LP acquired a new stake in ImmunityBio during the 3rd quarter worth approximately $257,000. Finally, Quantbot Technologies LP bought a new stake in ImmunityBio in the 3rd quarter valued at $143,000. 8.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBRX has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of ImmunityBio in a report on Thursday, March 13th. D. Boral Capital reiterated a "buy" rating and issued a $30.00 price objective on shares of ImmunityBio in a research note on Thursday, March 13th. Finally, BTIG Research started coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a "buy" rating and a $6.00 target price on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ImmunityBio has an average rating of "Buy" and a consensus price target of $12.19.

Remove Ads

ImmunityBio Stock Performance

Shares of IBRX traded down $0.04 during mid-day trading on Friday, reaching $2.71. The company had a trading volume of 9,070,663 shares, compared to its average volume of 5,484,749. The company's 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.63. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -2.95 and a beta of 0.82. ImmunityBio, Inc. has a 1-year low of $2.28 and a 1-year high of $10.53.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. As a group, equities analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

About ImmunityBio

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.