ImmunityBio (NASDAQ:IBRX) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

ImmunityBio (NASDAQ:IBRX) issued its quarterly earnings data on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02), FiscalAI reports. The firm had revenue of $48.84 million during the quarter, compared to analyst estimates of $59.23 million.

ImmunityBio Stock Performance

IBRX stock opened at $8.64 on Monday. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $7.96. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -8.91 and a beta of 0.17. ImmunityBio has a 52 week low of $1.95 and a 52 week high of $12.43.

Analysts Set New Price Targets

Several research firms recently commented on IBRX. Piper Sandler restated an “overweight” rating and issued a $16.00 target price on shares of ImmunityBio in a research report on Wednesday, October 14th. Jefferies Financial Group lifted their target price on ImmunityBio from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Thursday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Activity at ImmunityBio

In other news, Director Barry Simon sold 25,000 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $10.75, for a total value of $268,750.00. Following the completion of the transaction, the director directly owned 2,777,788 shares in the company, valued at $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 81,056 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the transaction, the director owned 100,309 shares in the company, valued at $1,053,244.50. This represents a 44.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 66.10% of the company’s stock.

About ImmunityBio

ImmunityBio is a biotechnology company that develops immunotherapies for cancer and infectious diseases. Its research combines approaches including immune-modulating biologics, cell therapies and vaccine-based treatments, with a focus on activating the body’s natural and adaptive immune responses.

The company’s lead product, Anktiva (nogapendekin alfa inbakicept-pmln), received U.S. Food and Drug Administration approval in 2024 for use with Bacillus Calmette-Guérin (BCG) in adults with BCG-unresponsive non-muscle-invasive bladder cancer with carcinoma in situ, with or without papillary tumors.