Brookstone Capital Management Invests $100,000 in ImmunityBio, Inc. (NASDAQ:IBRX)

Brookstone Capital Management bought a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,715 shares of the company’s stock, valued at approximately $100,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of ImmunityBio by 43.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock valued at $47,000 after purchasing an additional 2,844 shares during the period. Amalgamated Bank raised its holdings in ImmunityBio by 21.9% in the 4th quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock valued at $89,000 after acquiring an additional 3,186 shares during the period. Victory Capital Management Inc. raised its holdings in ImmunityBio by 25.8% in the 4th quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock valued at $89,000 after acquiring an additional 3,613 shares during the period. Wealth Effects LLC lifted its position in ImmunityBio by 11.2% during the fourth quarter. Wealth Effects LLC now owns 59,500 shares of the company’s stock worth $299,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ImmunityBio by 46.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,105 shares of the company’s stock worth $141,000 after acquiring an additional 8,932 shares during the period. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Stock Performance

IBRX opened at $6.28 on Thursday. The stock has a fifty day moving average of $6.98 and a 200-day moving average of $5.51. The company has a market capitalization of $4.34 billion, a P/E ratio of -5.76 and a beta of 1.07. ImmunityBio, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $10.53.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.03 million. On average, equities research analysts predict that ImmunityBio, Inc. will post -0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.