Cutler Investment Counsel LLC Invests $767,000 in ImmunityBio, Inc. $IBRX

Cutler Investment Counsel LLC acquired a new stake in ImmunityBio, Inc. (NASDAQ:IBRX) in the 1st quarter, Holdings Channel reports. The fund acquired 100,000 shares of the company’s stock, valued at approximately $767,000.

A number of other hedge funds have also made changes to their positions in the stock. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the third quarter worth approximately $27,000. WealthPlan Investment Management LLC bought a new position in ImmunityBio during the 4th quarter valued at $27,000. Diversify Advisory Services LLC bought a new position in ImmunityBio during the 2nd quarter valued at $27,000. Kovack Advisors Inc. acquired a new position in shares of ImmunityBio during the 4th quarter valued at $27,000. Finally, Cherry Creek Investment Advisors Inc. acquired a new position in shares of ImmunityBio during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

Insider Activity at ImmunityBio

In related news, Director Christobel Selecky sold 159,478 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares in the company, valued at approximately $316,277.28. This represents a 81.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the completion of the transaction, the director directly owned 125,386 shares of the company’s stock, valued at $1,191,167. This represents a 51.13% decrease in their position. 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. In the last 90 days, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by corporate insiders.

ImmunityBio Trading Down 2.5%

NASDAQ IBRX opened at $7.49 on Tuesday. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The company has a market cap of $7.84 billion, a PE ratio of -8.81 and a beta of 0.01. The stock’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.23.

ImmunityBio (NASDAQ:IBRX) last announced 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 business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. Research analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st. Finally, D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

ImmunityBio 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.