Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells 159,478 Shares of Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. This trade represents a 81.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christobel Selecky also recently made the following trade(s):

• On Monday, June 29th, Christobel Selecky sold 95,722 shares of ImmunityBio stock. The stock was sold at an average price of $9.01, for a total value of $862,455.22.
• On Tuesday, June 30th, Christobel Selecky sold 1,000 shares of ImmunityBio stock. The shares were sold at an average price of $9.00, for a total value of $9,000.00.

ImmunityBio Stock Down 5.6%

NASDAQ:IBRX opened at $8.91 on Tuesday. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of -10.48 and a beta of 0.01. The stock’s 50 day moving average price is $7.72 and its two-hundred day moving average price is $6.81.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC acquired a new stake in shares of ImmunityBio during the first quarter worth $44,000. Geneos Wealth Management Inc. grew its stake in shares of ImmunityBio by 579.3% in the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock valued at $44,000 after acquiring an additional 4,907 shares in the last quarter. Archer Investment Corp increased its position in ImmunityBio by 67.1% during the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock worth $45,000 after acquiring an additional 2,358 shares during the period. Hodges Capital Management Inc. bought a new position in ImmunityBio during the first quarter worth about $77,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in ImmunityBio in the 1st quarter worth about $78,000. Institutional investors own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

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