Sheets Smith Wealth Management Has $987,000 Position in ImmunityBio, Inc. (NASDAQ:IBRX)

Sheets Smith Wealth Management trimmed its stake in ImmunityBio, Inc. (NASDAQ:IBRX) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,679 shares of the company’s stock after selling 77,200 shares during the quarter. Sheets Smith Wealth Management’s holdings in ImmunityBio were worth $987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of ImmunityBio by 408.3% during the 4th quarter. Russell Investments Group Ltd. now owns 14,766 shares of the company’s stock worth $74,000 after purchasing an additional 11,861 shares during the period. Aire Advisors LLC purchased a new position in ImmunityBio in the third quarter valued at about $25,000. Courier Capital LLC bought a new position in shares of ImmunityBio during the 4th quarter valued at approximately $75,000. WINTON GROUP Ltd bought a new stake in shares of ImmunityBio in the 3rd quarter worth approximately $26,000. Finally, Carlson Capital Management purchased a new position in ImmunityBio in the fourth quarter valued at approximately $88,000. 8.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price target on ImmunityBio from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, April 29th.

ImmunityBio Price Performance

Shares of IBRX traded down $1.36 during trading hours on Monday, hitting $7.79. The company’s stock had a trading volume of 9,424,582 shares, compared to its average volume of 6,050,436. The business has a 50 day simple moving average of $5.67 and a two-hundred day simple moving average of $4.49. ImmunityBio, Inc. has a 52-week low of $1.25 and a 52-week high of $10.53. The company has a market cap of $5.27 billion, a price-to-earnings ratio of -6.89 and a beta of 1.16.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.03 million. Research analysts predict that ImmunityBio, Inc. will post -0.76 earnings per share for the current year.

ImmunityBio Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.