Franklin Resources Inc. Lowers Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Franklin Resources Inc. decreased its stake in ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,686 shares of the company's stock after selling 105,756 shares during the quarter. Franklin Resources Inc.'s holdings in ImmunityBio were worth $227,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Alliancebernstein L.P. increased its holdings in ImmunityBio by 4.1% in the 4th quarter. Alliancebernstein L.P. now owns 214,030 shares of the company's stock worth $548,000 after acquiring an additional 8,500 shares in the last quarter. Blair William & Co. IL boosted its position in shares of ImmunityBio by 12.9% in the fourth quarter. Blair William & Co. IL now owns 233,500 shares of the company's stock worth $598,000 after purchasing an additional 26,700 shares during the period. Vanguard Group Inc. raised its position in shares of ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock valued at $44,360,000 after purchasing an additional 425,713 shares during the period. LPL Financial LLC lifted its stake in shares of ImmunityBio by 67.2% during the 4th quarter. LPL Financial LLC now owns 257,449 shares of the company's stock valued at $659,000 after buying an additional 103,495 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in ImmunityBio in the 4th quarter worth $86,000. Institutional investors own 8.58% of the company's stock.

ImmunityBio Trading Down 0.4 %

Shares of IBRX stock opened at $2.47 on Friday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -2.68 and a beta of 0.51. ImmunityBio, Inc. has a 12-month low of $2.28 and a 12-month high of $10.53. The stock's 50-day moving average price is $2.95 and its 200-day moving average price is $3.50.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IBRX shares. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a report on Wednesday. D. Boral Capital reissued a "buy" rating and issued a $30.00 price target on shares of ImmunityBio in a report on Tuesday. Finally, BTIG Research started coverage on shares of ImmunityBio in a report on Friday, January 10th. They set a "buy" rating and a $6.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $12.19.

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.

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