ImmunityBio, Inc. (NASDAQ:IBRX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.20.

A number of equities analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. Finally, BTIG Research reissued a “buy” rating and issued a $12.00 price target on shares of ImmunityBio in a research report on Thursday, May 21st.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $7.91 on Friday. ImmunityBio has a one year low of $1.95 and a one year high of $12.43. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of -8.15 and a beta of 0.04. The company’s 50-day simple moving average is $7.79 and its two-hundred day simple moving average is $7.89.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $51.24 million for the quarter, compared to analysts’ expectations of $49.70 million. Equities analysts expect that ImmunityBio will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction on 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 directly owned 35,064 shares in the company, valued at approximately $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of ImmunityBio stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the sale, the director owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 412,410 shares of company stock worth $3,753,442 in the last three months. Corporate insiders own 66.10% of the company’s stock.

Institutional Trading of ImmunityBio

Hedge funds have recently modified their holdings of the stock. Markowski Investments acquired a new position in ImmunityBio during the second quarter worth $29,000. Hollencrest Capital Management acquired a new stake in shares of ImmunityBio in the second quarter valued at about $44,000. Western Wealth Management LLC acquired a new stake in shares of ImmunityBio in the first quarter valued at about $44,000. Geneos Wealth Management Inc. increased its stake in shares of ImmunityBio by 579.3% during the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock worth $44,000 after purchasing an additional 4,907 shares in the last quarter. Finally, Archer Investment Corp raised its position in shares of ImmunityBio by 67.1% during the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock worth $45,000 after purchasing an additional 2,358 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies and other treatments designed to activate the immune system against cancer and infectious diseases. The company’s platform combines biologics, cell therapies, vaccines and other approaches intended to generate durable immune responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.