ImmunityBio, Inc. (NASDAQ:IBRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $14.40.

A number of brokerages have recently weighed in on IBRX. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Thursday, March 12th. They set a “buy” rating and a $13.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. Piper Sandler reissued an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Finally, HC Wainwright increased their price objective on ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, February 23rd.

Insider Transactions at ImmunityBio

In other news, Director Barry J. Simon sold 165,000 shares of ImmunityBio stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the sale, the director directly owned 2,925,821 shares in the company, valued at $29,989,665.25. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christobel Selecky sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 501,967 shares of company stock worth $4,466,412. 69.48% of the stock is owned by insiders.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mariner LLC grew its position in ImmunityBio by 10.5% in the fourth quarter. Mariner LLC now owns 17,814 shares of the company’s stock valued at $35,000 after acquiring an additional 1,689 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of ImmunityBio by 6.9% during the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock worth $59,000 after purchasing an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of ImmunityBio by 8.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock valued at $57,000 after purchasing an additional 2,271 shares during the period. Mutual Advisors LLC grew its holdings in ImmunityBio by 9.0% during the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in ImmunityBio by 4.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company’s stock valued at $150,000 after purchasing an additional 3,280 shares in the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Trading Down 4.0%

Shares of NASDAQ IBRX opened at $8.47 on Friday. The company’s 50-day moving average price is $7.24 and its 200 day moving average price is $4.04. ImmunityBio has a 52 week low of $1.83 and a 52 week high of $12.43. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of -22.29 and a beta of -0.03.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $38.29 million for the quarter. As a group, research analysts expect that ImmunityBio will post -0.92 earnings per share for the current year.

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.