ImmunityBio (NASDAQ:IBRX) Sees Strong Trading Volume – Here’s What Happened

ImmunityBio, Inc. (NASDAQ:IBRX) shares saw strong trading volume on Tuesday . 41,762,827 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 39,393,707 shares.The stock last traded at $7.7660 and had previously closed at $9.40.

More ImmunityBio News

Here are the key news stories impacting ImmunityBio this week:

• Positive Sentiment: NCCN guideline update formally added ANKTIVA for papillary-only NMIBC, a clinical-practice recognition that supports commercial adoption and reimbursement conversations. NCCN update
• Positive Sentiment: ANKTIVA’s recent approvals/expansion in Asia (Macau/Asian markets) have been cited as a growth catalyst and helped push shares higher ahead of today’s drop by opening additional commercial markets. Asian expansion
• Positive Sentiment: An analyst firm reaffirmed a “buy” rating and a $23 price target, signaling bullish institutional views on upside tied to label expansion and commercialization. Analyst reaffirmation
• Neutral Sentiment: Analysts and write-ups note that ANKTIVA label expansion is necessary for the next growth phase but caution that competition, premium valuation, and execution risk still leave upside uncertain. Valuation and competition discussion
• Negative Sentiment: The U.S. FDA issued a warning letter saying a TV ad and podcast promoting ANKTIVA made false or misleading claims and violated federal law — a regulatory compliance issue that triggered a sharp sell-off and raises risk of further regulatory action or civil enforcement. FDA warning letter
• Negative Sentiment: Johnson Fistel announced an investigation into potential securities claims involving ImmunityBio executives, increasing legal and reputational risk that could pressure the stock and lead to potential litigation costs or settlements. Shareholder investigation

Analyst Ratings Changes

IBRX has been the subject of several recent research reports. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a research report on Monday. HC Wainwright increased their price objective on ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Jefferies Financial Group boosted their target price on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of ImmunityBio in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

ImmunityBio Trading Down 24.2%

The stock has a fifty day simple moving average of $7.38 and a 200-day simple moving average of $4.10. The company has a market capitalization of $7.33 billion, a PE ratio of -18.83 and a beta of -0.04.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $38.29 million during the quarter. As a group, equities research analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Insider Activity at ImmunityBio

In other news, Director Christobel Selecky sold 50,000 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Simon sold 165,000 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the transaction, the director directly owned 2,925,821 shares in the company, valued at $29,989,665.25. This trade represents a 5.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 501,967 shares of company stock worth $4,466,412 over the last quarter. 69.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of IBRX. Slow Capital Inc. purchased a new position in shares of ImmunityBio during the third quarter worth about $25,000. Truist Financial Corp purchased a new stake in shares of ImmunityBio in the 3rd quarter valued at about $27,000. Swiss Life Asset Management Ltd acquired a new stake in shares of ImmunityBio in the 3rd quarter valued at about $27,000. WealthPlan Investment Management LLC acquired a new stake in shares of ImmunityBio in the 4th quarter valued at about $27,000. Finally, Diversify Advisory Services LLC purchased a new position in ImmunityBio during the 2nd quarter worth approximately $27,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.