ImmunityBio, Inc. (NASDAQ:IBRX) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of ImmunityBio, Inc. (NASDAQ:IBRX) by 69.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,513 shares of the company’s stock after selling 28,706 shares during the quarter. Principal Financial Group Inc.’s holdings in ImmunityBio were worth $47,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC raised its position in shares of ImmunityBio by 102.6% during the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after buying an additional 6,593 shares in the last quarter. Algert Global LLC acquired a new position in shares of ImmunityBio in the 2nd quarter worth $86,000. Simplicity Wealth LLC lifted its position in shares of ImmunityBio by 46.0% in the 2nd quarter. Simplicity Wealth LLC now owns 15,806 shares of the company’s stock valued at $100,000 after acquiring an additional 4,983 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in ImmunityBio during the 2nd quarter valued at about $105,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of ImmunityBio during the second quarter worth approximately $118,000. Institutional investors own 8.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on IBRX. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Thursday, November 21st. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler decreased their price target on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research report on Monday, August 19th.

ImmunityBio Price Performance

Shares of IBRX opened at $5.12 on Wednesday. The business’s 50 day simple moving average is $4.30 and its 200-day simple moving average is $5.12. ImmunityBio, Inc. has a one year low of $3.10 and a one year high of $10.53. The company has a market capitalization of $3.57 billion, a P/E ratio of -5.57 and a beta of 0.99.

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.