KLP Kapitalforvaltning AS Purchases New Position in ImmunityBio, Inc. (NASDAQ:IBRX)

KLP Kapitalforvaltning AS bought a new stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,100 shares of the company’s stock, valued at approximately $57,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of ImmunityBio by 1.5% during the fourth 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 in the last quarter. Teacher Retirement System of Texas lifted its holdings in ImmunityBio by 20.4% during the fourth quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company’s stock worth $107,000 after buying an additional 7,067 shares during the period. Commonwealth Equity Services LLC boosted its position in ImmunityBio by 40.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company’s stock valued at $74,000 after acquiring an additional 8,380 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of ImmunityBio by 32.9% in the 4th quarter. E Fund Management Co. Ltd. now owns 38,900 shares of the company’s stock valued at $100,000 after acquiring an additional 9,622 shares during the period. Finally, Copperwynd Financial LLC raised its position in shares of ImmunityBio by 99.1% in the 4th quarter. Copperwynd Financial LLC now owns 20,087 shares of the company’s stock worth $51,000 after acquiring an additional 10,000 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ImmunityBio Stock Performance

Shares of IBRX opened at $2.63 on Friday. The stock has a 50-day moving average of $3.01 and a two-hundred day moving average of $3.54. The stock has a market cap of $2.24 billion, a P/E ratio of -2.86 and a beta of 0.51. ImmunityBio, Inc. has a one year low of $2.28 and a one year high of $10.53.

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