JPMorgan Chase & Co. Has $2.67 Million Holdings in ImmunityBio, Inc. (NASDAQ:IBRX)

JPMorgan Chase & Co. lessened its stake in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,041,863 shares of the company’s stock after selling 99,048 shares during the quarter. JPMorgan Chase & Co.’s holdings in ImmunityBio were worth $2,667,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

IBRX has been the subject of a number of research analyst reports. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 target price for the company. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Tuesday, April 15th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ImmunityBio in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio currently has an average rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Price Performance

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

ImmunityBio (NASDAQ:IBRX) last released its 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. On average, sell-side analysts expect that ImmunityBio, Inc. will post -0.92 EPS 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.