Sanctuary Advisors LLC Reduces Stake in ImmunityBio, Inc.

Sanctuary Advisors LLC has reduced its stake in ImmunityBio, Inc. (NASDAQ:IBRX) by 20.8% during the third quarter, as reported in their latest filing with the Securities and Exchange Commission. After selling 7,656 shares, the institutional investor now holds 29,184 shares of ImmunityBio, valued at approximately $109,000 at the end of the reporting period.

In addition to Sanctuary Advisors, several other institutional investors have also changed their positions in ImmunityBio. For example, State Street Corp increased its holdings in the company by 10.1% during the third quarter, acquiring an additional 790,408 shares to reach a total of 8,654,460 shares, which are valued at about $32,195,000. Charles Schwab Investment Management Inc. also lifted their stake by 2.4%, now owning 1,265,981 shares worth $4,709,000 after buying an extra 29,665 shares in the last quarter.

Moreover, the Bank of New York Mellon Corp boosted its position in ImmunityBio by 37.9% during the second quarter, owning 621,536 shares valued at $3,928,000 following the purchase of 170,742 additional shares. Clearwater Capital Advisors LLC increased its holdings by 8.9% in the second quarter, now owning 482,549 shares worth $3,050,000 after acquiring an additional 39,250 shares.

Barclays PLC has also made a notable increase of 127.4% in their stake during the third quarter, now holding 361,036 shares valued at $1,344,000 after acquiring an extra 202,248 shares. Overall, institutional investors own 8.58% of ImmunityBio’s stock.

ImmunityBio Shares Performance

As of Tuesday, ImmunityBio's shares opened at $2.68. The stock has seen a one-year low of $2.50 and a high of $10.53. The company maintains a market capitalization of $1.87 billion, with a price-to-earnings ratio of -2.91 and a beta of 0.86.

Analyst Ratings Updates

Several analysts have recently provided their insights on ImmunityBio. EF Hutton Acquisition Co. I upgraded the stock to a “strong-buy” rating in a research note dated October 23rd, while D. Boral Capital reissued a “buy” rating and set a price target of $30.00 on December 20th.

Company Overview

ImmunityBio, Inc. is a clinical-stage biotechnology company that focuses on developing therapies and vaccines designed to enhance the natural immune system to combat cancers and infectious diseases. Their development platforms include a variety of product candidates such as antibody-cytokine fusion proteins, DNA, RNA, and recombinant protein vaccines, as well as cell therapies.

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