ImmunityBio (NASDAQ:IBRX) Director Sells $197,000.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 25,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director directly owned 2,802,788 shares in the company, valued at approximately $22,085,969.44. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $8.71 on Monday. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43. The company’s 50-day moving average price is $7.58 and its 200-day moving average price is $6.53. The stock has a market cap of $9.12 billion, a PE ratio of -10.25 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. As a group, sell-side analysts forecast that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd acquired a new position in ImmunityBio during the third quarter worth $27,000. WealthPlan Investment Management LLC acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $27,000. Diversify Advisory Services LLC acquired a new stake in shares of ImmunityBio in the second quarter valued at about $27,000. Kovack Advisors Inc. purchased a new stake in shares of ImmunityBio during the fourth quarter worth about $27,000. Finally, Cherry Creek Investment Advisors Inc. purchased a new stake in shares of ImmunityBio during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IBRX. Piper Sandler restated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

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.