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

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 25,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total value of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Trading Up 11.8%

IBRX stock opened at $8.71 on Friday. The company has a market cap of $9.12 billion, a PE ratio of -10.25 and a beta of 0.03. The stock has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $6.50. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The firm had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. Equities analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new stake in ImmunityBio in the first quarter valued at $44,000. Geneos Wealth Management Inc. increased its position in shares of ImmunityBio by 579.3% in the 1st 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 during the last quarter. Archer Investment Corp increased its position in shares of ImmunityBio by 67.1% in 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. Hodges Capital Management Inc. acquired a new stake in shares of ImmunityBio in the 1st quarter valued at about $77,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of ImmunityBio in the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a research report on Tuesday, May 5th. BTIG Research restated a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.20.

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.