JPMorgan Chase & Co. Sells 99,048 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

JPMorgan Chase & Co. lowered its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,041,863 shares of the company's stock after selling 99,048 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of ImmunityBio worth $2,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock worth $44,360,000 after buying an additional 425,713 shares during the last quarter. LPL Financial LLC raised its holdings in ImmunityBio by 67.2% in the 4th quarter. LPL Financial LLC now owns 257,449 shares of the company's stock worth $659,000 after acquiring an additional 103,495 shares during the period. Fox Run Management L.L.C. acquired a new position in ImmunityBio during the 4th quarter worth $86,000. KLP Kapitalforvaltning AS bought a new stake in ImmunityBio during the fourth quarter valued at about $57,000. Finally, Teacher Retirement System of Texas grew its position in shares of ImmunityBio by 20.4% in the fourth quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company's stock valued at $107,000 after purchasing an additional 7,067 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. D. Boral Capital reissued a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Tuesday, April 15th. BTIG Research initiated coverage on ImmunityBio in a research report on Friday, January 10th. They issued a "buy" rating and a $6.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $12.19.

ImmunityBio Stock Performance

Shares of IBRX opened at $2.69 on Wednesday. The company has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.49. ImmunityBio, Inc. has a 52 week low of $2.28 and a 52 week high of $10.53. The firm has a market capitalization of $2.30 billion, a P/E ratio of -2.92 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million during 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 year.

ImmunityBio Company 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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