ImmunityBio, Inc. (NASDAQ:IBRX) Receives $14.20 Average Price Target from Analysts

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.20.

Several equities research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th.

Insiders Place Their Bets

In other news, Director Barry Simon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director owned 2,802,788 shares in the company, valued at $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christobel Selecky sold 159,478 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total value of $1,438,491.56. Following the completion of the transaction, the director directly owned 35,064 shares in the company, valued at $316,277.28. The trade was a 81.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 412,410 shares of company stock worth $3,753,442 over the last three months. Insiders own 66.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC acquired a new stake in shares of ImmunityBio during the fourth quarter worth $27,000. Markowski Investments bought a new position in ImmunityBio during the second quarter worth about $29,000. Swiss Life Asset Management Ltd increased its position in ImmunityBio by 49.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 16,416 shares of the company’s stock worth $33,000 after acquiring an additional 5,459 shares during the period. Sierra Ocean LLC acquired a new stake in ImmunityBio in the 4th quarter worth about $40,000. Finally, Geneos Wealth Management Inc. boosted its holdings in ImmunityBio by 579.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock valued at $44,000 after purchasing an additional 4,907 shares during the period. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Stock Up 0.2%

Shares of NASDAQ IBRX opened at $8.48 on Friday. The business’s 50 day moving average price is $7.74 and its two-hundred day moving average price is $7.83. The company has a market cap of $8.99 billion, a PE ratio of -8.74 and a beta of 0.04. ImmunityBio has a twelve month low of $1.95 and a twelve month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $51.24 million during the quarter, compared to the consensus estimate of $49.70 million. As a group, research analysts anticipate that ImmunityBio will post -0.44 EPS for the current fiscal year.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies and other treatments designed to activate the immune system against cancer and infectious diseases. The company’s platform combines biologics, cell therapies, vaccines and other approaches intended to generate durable immune responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.