ImmunityBio (NASDAQ:IBRX) Stock Falls 8.3% – Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX) shares were down 8.3% on Thursday. The stock traded as low as $6.10 and last traded at $6.1170. 11,675,154 shares changed hands during trading, a decline of 41% from the average daily volume of 19,940,113 shares. The stock had previously closed at $6.67.

Key Stories Impacting ImmunityBio

These are some of the IBRX stories that stood out recently:

• Positive Sentiment: BTIG initiated a Buy rating, adding a bullish analyst view. HC Wainwright also maintains a Buy rating and $15 price target. ImmunityBio Gets a Buy from BTIG
• Positive Sentiment: Investors are looking to ANKTIVA’s possible label expansion, international rollout, and sepsis-trial potential as possible sources of future growth. These are prospective opportunities, not reported new approvals or commercial results. What Could ImmunityBio Gain From ANKTIVA Label Expansion And Global Rollout? Anktiva Sepsis Trial Potential and Investor Interest
• Neutral Sentiment: ImmunityBio plans to present at two London healthcare and biopharma investor conferences during Life Sciences Week. The events may provide an opportunity to discuss its pipeline and commercial progress, but no new results were announced. ImmunityBio to Participate in UK Investor Conferences

Wall Street Analyst Weigh In

Several equities analysts have commented on IBRX shares. Piper Sandler reissued an “overweight” rating and set a $16.00 target price on shares of ImmunityBio in a research report on Wednesday, October 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, October 6th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Thursday, October 15th. Finally, Jefferies Financial Group lifted their target price on shares of ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

ImmunityBio Stock Performance

The stock has a market cap of $6.43 billion, a P/E ratio of -5.61 and a beta of 0.17. The firm has a 50 day moving average of $8.67 and a two-hundred day moving average of $7.96.

Insiders Place Their Bets

In related news, Director Cheryl Cohen sold 81,056 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the completion of the transaction, the director directly owned 100,309 shares in the company, valued at $1,053,244.50. This represents a 44.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Simon sold 25,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $10.75, for a total transaction of $268,750.00. Following the completion of the sale, the director directly owned 2,777,788 shares of the company’s stock, valued at approximately $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 66.10% of the company’s stock.

Institutional Investors Weigh In On ImmunityBio

Institutional investors have recently added to or reduced their stakes in the company. Markowski Investments bought a new stake in shares of ImmunityBio during the second quarter valued at approximately $29,000. Compass Wealth Management LLC bought a new position in shares of ImmunityBio in the third quarter worth about $29,000. GAMMA Investing LLC boosted its position in ImmunityBio by 262.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,807 shares of the company’s stock valued at $36,000 after buying an additional 2,756 shares during the last quarter. Geneos Wealth Management Inc. lifted 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 valued at $44,000 after acquiring an additional 4,907 shares during the period. Finally, Western Wealth Management LLC acquired a new position in ImmunityBio in the first quarter valued at approximately $44,000. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

ImmunityBio is a biotechnology company that develops immunotherapies for cancer and infectious diseases. Its research combines approaches including immune-modulating biologics, cell therapies and vaccine-based treatments, with a focus on activating the body’s natural and adaptive immune responses. The company’s lead product, Anktiva (nogapendekin alfa inbakicept-pmln), received U.S. Food and Drug Administration approval in 2024 for use with Bacillus Calmette-Guérin (BCG) in adults with BCG-unresponsive non-muscle-invasive bladder cancer with carcinoma in situ, with or without papillary tumors.