E Fund Management Co. Ltd. Sells 35,464 Shares of ImmunityBio, Inc. (NASDAQ:IBRX)

E Fund Management Co. Ltd. trimmed its holdings in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 57.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,458 shares of the company’s stock after selling 35,464 shares during the quarter. E Fund Management Co. Ltd.’s holdings in ImmunityBio were worth $167,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sheets Smith Wealth Management increased its position in shares of ImmunityBio by 380.8% during the first quarter. Sheets Smith Wealth Management now owns 945,720 shares of the company’s stock worth $5,079,000 after acquiring an additional 749,041 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of ImmunityBio in the 4th quarter valued at about $3,714,000. Vanguard Group Inc. lifted its holdings in shares of ImmunityBio by 1.6% in the first quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock valued at $72,708,000 after purchasing an additional 211,065 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ImmunityBio by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after purchasing an additional 170,742 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of ImmunityBio by 106.3% during the first quarter. Blair William & Co. IL now owns 313,542 shares of the company’s stock worth $1,684,000 after buying an additional 161,530 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th.

ImmunityBio Trading Up 1.8 %

ImmunityBio stock opened at $3.48 on Friday. ImmunityBio, Inc. has a 1-year low of $1.25 and a 1-year high of $10.53. The company has a fifty day simple moving average of $4.52 and a 200 day simple moving average of $5.68. The company has a market cap of $2.41 billion, a P/E ratio of -3.19 and a beta of 1.02.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $1.05 million during the quarter, compared to analyst estimates of $2.53 million. On average, equities research analysts forecast that ImmunityBio, Inc. will post -0.86 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.