ImmunityBio (NASDAQ:IBRX) Director Sells $1,094,162.40 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 151,967 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the completion of the sale, the director directly owned 3,091,604 shares in the company, valued at $22,259,548.80. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ImmunityBio Stock Performance

Shares of IBRX opened at $6.45 on Friday. ImmunityBio, Inc. has a 1 year low of $1.83 and a 1 year high of $8.28. The company has a market cap of $6.35 billion, a price-to-earnings ratio of -15.73 and a beta of 0.03. The firm has a fifty day moving average of $2.74 and a 200-day moving average of $2.58.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to analyst estimates of $31.88 million. Analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IBRX. Jefferies Financial Group raised their target price on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. D. Boral Capital reissued a “buy” rating and set a $24.00 price target on shares of ImmunityBio in a report on Tuesday. Piper Sandler upped their price objective on shares of ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. Finally, BTIG Research increased their price objective on shares of ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ImmunityBio currently has a consensus rating of “Moderate Buy” and an average target price of $11.40.

Institutional Trading of ImmunityBio

Large investors have recently added to or reduced their stakes in the business. Slow Capital Inc. bought a new position in shares of ImmunityBio in the third quarter valued at $25,000. Truist Financial Corp acquired a new stake in shares of ImmunityBio during the third quarter worth $27,000. Swiss Life Asset Management Ltd purchased a new stake in shares of ImmunityBio during the third quarter valued at $27,000. Diversify Advisory Services LLC acquired a new position in shares of ImmunityBio in the 2nd quarter valued at $27,000. Finally, Summit X LLC acquired a new position in shares of ImmunityBio in the 2nd quarter valued at $28,000. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.