ImmunityBio, Inc. (NASDAQ:IBRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.80.

A number of research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of ImmunityBio from $5.00 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of ImmunityBio in a report on Tuesday, January 20th. Jefferies Financial Group increased their price objective on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 12th. HC Wainwright lifted their price objective on ImmunityBio from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th.

ImmunityBio Trading Down 7.1%

Shares of ImmunityBio stock opened at $5.88 on Friday. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $8.28. The company has a market cap of $5.79 billion, a P/E ratio of -14.34 and a beta of 0.16. The stock has a 50-day moving average price of $3.38 and a 200 day moving average price of $2.76.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $31.88 million. On average, equities analysts forecast that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $7.51, for a total value of $187,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry J. Simon sold 151,967 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total transaction of $1,094,162.40. Following the transaction, the director owned 3,091,604 shares in the company, valued at $22,259,548.80. This represents a 4.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 226,967 shares of company stock valued at $1,531,912 over the last quarter. Corporate insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of ImmunityBio by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after acquiring an additional 5,122,052 shares during the last quarter. Armistice Capital LLC bought a new position in shares of ImmunityBio in the second quarter valued at approximately $20,497,000. Heights Capital Management Inc. acquired a new stake in shares of ImmunityBio in the third quarter worth $16,152,000. Geode Capital Management LLC boosted its holdings in shares of ImmunityBio by 34.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock worth $15,254,000 after buying an additional 1,487,849 shares during the period. Finally, Woodline Partners LP grew its stake in ImmunityBio by 53.7% in the 3rd quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock valued at $13,032,000 after buying an additional 1,851,854 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

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.