Cibc World Markets Corp Makes New Investment in ImmunityBio, Inc. (NASDAQ:IBRX)

Cibc World Markets Corp acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,546 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBRX. State Street Corp raised its holdings in ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 valued at $3,268,000 after acquiring an additional 10,692 shares during the period. Barclays PLC lifted its holdings in shares of ImmunityBio by 127.4% in 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 stake in shares of ImmunityBio by 9.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 295,950 shares of the company’s stock worth $793,000 after purchasing an additional 25,000 shares during the period. Finally, Swiss National Bank grew its holdings in ImmunityBio by 1.5% during the 4th quarter. Swiss National Bank now owns 274,000 shares of the company’s stock valued at $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.

Wall Street Analysts Forecast Growth

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

ImmunityBio Price Performance

Shares of IBRX stock opened at $3.14 on Friday. The company’s 50-day simple moving average is $3.13 and its two-hundred day simple moving average is $3.60. ImmunityBio, Inc. has a one year low of $2.28 and a one year high of $10.53. The company has a market capitalization of $2.68 billion, a P/E ratio of -3.41 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $8.74 million. On average, research analysts expect 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.