ImmunityBio (NASDAQ:IBRX) Stock: Insider Barry Simon Sells 25,000 Shares

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,777,788 shares in the company, valued at $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Trading Down 6.6%

Shares of ImmunityBio stock traded down $0.69 during midday trading on Tuesday, reaching $9.69. The company had a trading volume of 16,841,849 shares, compared to its average volume of 20,774,146. The stock has a fifty day simple moving average of $8.09 and a 200 day simple moving average of $7.86. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of -9.99 and a beta of 0.02.

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

Institutional Trading of ImmunityBio

A number of institutional investors have recently bought and sold shares of IBRX. BlackRock Inc. raised its position in shares of ImmunityBio by 29.4% during the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock valued at $298,399,000 after acquiring an additional 7,736,819 shares during the last quarter. State Street Corp boosted its position in shares of ImmunityBio by 20.8% in the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company’s stock worth $187,343,000 after purchasing an additional 3,690,335 shares during the last quarter. SEB Asset Management AB bought a new position in shares of ImmunityBio in the 1st quarter worth $18,770,000. Bank of America Corp DE acquired a new stake in shares of ImmunityBio during the second quarter worth $19,125,000. Finally, Private Advisor Group LLC grew its stake in shares of ImmunityBio by 923.5% during the first quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock worth $12,644,000 after purchasing an additional 1,487,482 shares during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IBRX. Jefferies Financial Group upgraded ImmunityBio to a “strong-buy” rating in a report on Friday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.20.

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.