ImmunityBio (NASDAQ:IBRX) Director Sells $1,246,495.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Cheryl Cohen sold 131,210 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total value of $1,246,495.00. Following the completion of the transaction, the director directly owned 125,386 shares in the company, valued at $1,191,167. This represents a 51.13% 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 this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Price Performance

NASDAQ IBRX opened at $8.91 on Tuesday. The business has a 50 day simple moving average of $7.72 and a 200 day simple moving average of $6.81. ImmunityBio, Inc. has a one year low of $1.95 and a one year high of $12.43. The stock has a market capitalization of $9.33 billion, a P/E ratio of -10.48 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.07 million. Equities analysts expect that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of ImmunityBio by 193.4% in the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock worth $134,000 after purchasing an additional 29,297 shares in the last quarter. Creative Planning increased its stake in ImmunityBio by 9.2% during the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after purchasing an additional 5,231 shares in the last quarter. Cetera Investment Advisers increased its stake in ImmunityBio by 56.9% during the 2nd quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock valued at $49,000 after purchasing an additional 6,731 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in ImmunityBio by 5.2% during the second quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock worth $2,829,000 after buying an additional 52,782 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in ImmunityBio by 11.8% during the second quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock worth $542,000 after buying an additional 21,715 shares during the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBRX. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, April 14th. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $12.00 price target on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

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.