Cibc World Markets Corp Acquires New Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

Cibc World Markets Corp acquired a new position in ImmunityBio, Inc. (NASDAQ:IBRX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,546 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of ImmunityBio during the 3rd quarter worth $253,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $4,709,000 after buying an additional 29,665 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of ImmunityBio in the 3rd quarter valued at about $143,000. Captrust Financial Advisors bought a new stake in shares of ImmunityBio in the 3rd quarter valued at about $41,000. Finally, Verition Fund Management LLC grew its position in shares of ImmunityBio by 131.8% in the 3rd quarter. Verition Fund Management LLC now owns 94,270 shares of the company’s stock worth $351,000 after buying an additional 53,607 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BTIG Research started coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Thursday, March 13th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a report on Thursday, March 13th. One investment 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 a consensus rating of “Buy” and an average price target of $12.19.

ImmunityBio Price Performance

Shares of IBRX stock opened at $3.14 on Friday. The business has a fifty day moving average of $3.13 and a 200 day moving average of $3.60. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -3.41 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) last released its earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. As a group, equities research analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current 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.