The Vanguard Group, Inc. recently announced the acquisition of new stake in ImmunityBio Inc (NASDAQ:IBRX). The institutional investor has increased its shareholding in the Healthcare company by 43.20% to 14.37 million shares with purchase of 4.34 million shares. This fresh investment now brings its stake to 2.15% valued currently at $45.13 million. In addition, BlackRock Fund Advisors raised its holdings by 1.31 million to 9.92 million shares.
With over 3.58 million ImmunityBio Inc (IBRX) shares trading Tuesday and a closing price of $3.74 on the day, the dollar volume was approximately $13.39 million. The shares have shown a positive half year performance of 34.05% and its price on 11/21/23 lost nearly -7.65%. Currently, there are 421.57M common shares owned by the public and among those 130.77M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for IBRX have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. The average price target is 6.5% above its recent price level and an upside to the estimated low will see the stock gain 6.5% over that period. But an upside of 6.5% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 219,664,167 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 46,465 shares.
The top 3 mutual fund holders in ImmunityBio Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 5.83 million shares of the company’s stock, all valued at over $18.3 million. Vanguard Small Cap Index Fund bought 1724.0 shares to see its total holdings expand to 3.52 million shares valued at over $11.04 million and representing 0.53% of the shares outstanding. iShares Russell 2000 ETF sold 26727.0 shares to bring its total holdings to over 2.66 million shares at a value of $8.35 million. iShares Russell 2000 ETF now owns shares totaling to 0.40% of the shares outstanding.
Shares of ImmunityBio Inc (NASDAQ: IBRX) opened at $4.08, up $0.03 from a prior closing price of $4.05. However, the script later moved the day high at 4.0800, down -7.65%. The company’s stock has a 5-day price change of 3.03% and 125.30% over the past three months. IBRX shares are trading -26.23% year to date (YTD), with the 12-month market performance down to -29.03% lower. It has a 12-month low price of $1.21 and touched a high of $7.10 over the same period. IBRX has an average intraday trading volume of 5.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.28%, 69.41%, and 55.53% respectively.
Institutional ownership of ImmunityBio Inc (NASDAQ: IBRX) shares accounts for 7.50% of the company’s 421.57M shares outstanding. Mutual fund holders own 4.37%, while other institutional holders and individual stakeholders account for 80.38% and 3.14% respectively.
It has a market capitalization of $2.50B and a beta (3y monthly) value of 1.12. The earnings-per-share (ttm) stands at -$1.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.21% over the week and 18.74% over the month.
Analysts forecast that ImmunityBio Inc (IBRX) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.68 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.28 a year ago. Earnings per share for the fiscal year are expected to increase by 10.58%, and 26.88% over the next financial year. EPS should shrink at an annualized rate of -1.70% over the next five years, compared to 2.79% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate ImmunityBio Inc (IBRX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IBRX, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on May 12, 2023, with the firm’s price target at $10-$4.
