Skandinaviska Enskilda Banken AB publ Acquires 25,000 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

Skandinaviska Enskilda Banken AB publ lifted its holdings in ImmunityBio, Inc. (NASDAQ:IBRX) by 9.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 295,950 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in ImmunityBio were worth $793,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Stephens Inc. AR purchased a new stake in ImmunityBio during the 4th quarter valued at about $26,000. Maia Wealth LLC purchased a new stake in shares of ImmunityBio during the fourth quarter valued at approximately $37,000. Schechter Investment Advisors LLC bought a new position in shares of ImmunityBio in the fourth quarter worth approximately $38,000. Captrust Financial Advisors purchased a new position in shares of ImmunityBio in the third quarter worth $41,000. Finally, Mutual Advisors LLC bought a new stake in ImmunityBio during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Price Performance

IBRX stock opened at $2.91 on Tuesday. ImmunityBio, Inc. has a 1 year low of $2.28 and a 1 year high of $10.53. The company has a market cap of $2.48 billion, a P/E ratio of -3.16 and a beta of 0.82. The stock’s fifty day moving average price is $3.08 and its 200-day moving average price is $3.65.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IBRX shares. D. Boral Capital reissued a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Thursday, March 13th. 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. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $12.19.

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.