ImmunityBio (NASDAQ:IBRX) Trading Down 10.1% – Time to Sell?

ImmunityBio, Inc. (NASDAQ:IBRX) shares fell 10.1% on Friday . The company traded as low as $5.94 and last traded at $5.95. 39,176,220 shares changed hands during trading, a decline of 7% from the average session volume of 42,119,613 shares. The stock had previously closed at $6.62.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IBRX shares. D. Boral Capital reissued a “buy” rating and issued a $24.00 target price on shares of ImmunityBio in a research note on Tuesday, January 20th. BTIG Research increased their target price on ImmunityBio from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Piper Sandler boosted their price target on ImmunityBio from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. HC Wainwright upped their price target on ImmunityBio from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, ImmunityBio presently has an average rating of “Moderate Buy” and an average target price of $11.80.

ImmunityBio Stock Down 10.1%

The company’s fifty day moving average is $3.88 and its two-hundred day moving average is $2.91. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -14.51 and a beta of 0.16.

Insider Transactions at ImmunityBio

In other ImmunityBio news, Director Barry J. Simon sold 151,967 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total transaction of $1,094,162.40. Following the completion of the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. This represents a 4.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christobel Selecky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.51, for a total transaction of $187,750.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 226,967 shares of company stock worth $1,531,912. 69.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its holdings in ImmunityBio by 6.9% in the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock worth $59,000 after purchasing an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of ImmunityBio by 8.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock valued at $57,000 after purchasing an additional 2,271 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of ImmunityBio by 9.0% during the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after buying an additional 2,500 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in ImmunityBio by 4.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company’s stock worth $150,000 after acquiring an additional 3,280 shares in the last quarter. Finally, Courier Capital LLC grew its stake in shares of ImmunityBio by 12.5% in the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock valued at $119,000 after buying an additional 5,000 shares during the period. 8.58% of the stock is owned by institutional investors and hedge funds.

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.