ImmunityBio (NASDAQ:IBRX) Director Sells $165,376.94 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 23,033 shares of ImmunityBio stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $7.18, for a total value of $165,376.94. Following the sale, the director owned 2,827,788 shares in the company, valued at $20,303,517.84. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Performance

Shares of ImmunityBio stock traded down $0.37 during trading on Friday, reaching $6.92. The company had a trading volume of 13,794,163 shares, compared to its average volume of 28,435,240. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -8.14 and a beta of 0.03. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The firm’s fifty day moving average is $7.58 and its 200-day moving average is $5.95.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IBRX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. Piper Sandler reissued an “overweight” rating and set a $12.00 target price (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. BTIG Research reissued a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio presently has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Institutional Investors Weigh In On ImmunityBio

Hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ increased its stake in shares of ImmunityBio by 347.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,324,871 shares of the company’s stock worth $3,246,000 after acquiring an additional 1,028,921 shares during the last quarter. Heights Capital Management Inc. acquired a new stake in shares of ImmunityBio in the third quarter worth $16,152,000. Vanguard Group Inc. raised its position in shares of ImmunityBio by 26.8% during the third quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company’s stock valued at $68,032,000 after buying an additional 5,837,898 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in ImmunityBio by 79.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 452,458 shares of the company’s stock valued at $1,113,000 after acquiring an additional 199,990 shares in the last quarter. Finally, MOR Wealth Management LLC acquired a new stake in shares of ImmunityBio during the 4th quarter worth approximately $494,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.