ImmunityBio, Inc. (NASDAQ:IBRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.80.

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. HC Wainwright raised their price target on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group raised their target price on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th.

Insiders Place Their Bets

In other news, Director Barry J. Simon sold 151,967 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total value of $1,094,162.40. Following the sale, the director owned 3,091,604 shares in the company, valued at approximately $22,259,548.80. The trade was a 4.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christobel Selecky sold 50,000 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 226,967 shares of company stock valued at $1,531,912. Company insiders own 69.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Slow Capital Inc. bought a new stake in ImmunityBio during the 3rd quarter worth approximately $25,000. Truist Financial Corp acquired a new position in ImmunityBio in the third quarter worth $27,000. Swiss Life Asset Management Ltd bought a new stake in shares of ImmunityBio during the third quarter worth $27,000. Diversify Advisory Services LLC acquired a new stake in shares of ImmunityBio in the second quarter valued at $27,000. Finally, Summit X LLC bought a new position in shares of ImmunityBio in the second quarter valued at about $28,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Trading Up 5.8%

Shares of NASDAQ:IBRX opened at $6.25 on Friday. The firm has a market capitalization of $6.16 billion, a PE ratio of -15.24 and a beta of 0.03. ImmunityBio has a 1-year low of $1.83 and a 1-year high of $8.28. The business’s 50 day moving average is $3.14 and its 200-day moving average is $2.69.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to the consensus estimate of $31.88 million. On average, sell-side analysts predict that ImmunityBio will post -0.92 EPS for the current year.

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.