Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $851,088.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Cheryl Cohen sold 81,056 shares of ImmunityBio 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 completion of the transaction, the director directly owned 100,309 shares in the company, valued at approximately $1,053,244.50. The trade was a 44.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Up 1.6%

ImmunityBio stock opened at $9.91 on Friday. The company has a 50 day moving average of $8.25 and a 200-day moving average of $7.88. ImmunityBio, Inc. has a twelve month low of $1.95 and a twelve month high of $12.43. The stock has a market capitalization of $10.50 billion, a PE ratio of -10.22 and a beta of 0.02.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $51.24 million for the quarter, compared to analyst estimates of $49.70 million. Equities analysts anticipate that ImmunityBio, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

A number of institutional investors have recently made changes to their positions in IBRX. Doliver Advisors LP increased its position in shares of ImmunityBio by 110.0% during the 3rd quarter. Doliver Advisors LP now owns 210,000 shares of the company’s stock worth $1,982,000 after purchasing an additional 110,000 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of ImmunityBio in the 2nd quarter valued at approximately $1,287,000. Tidal Investments LLC bought a new position in shares of ImmunityBio in the second quarter valued at $2,207,000. SEB Asset Management AB bought a new position in shares of ImmunityBio in the first quarter valued at $18,770,000. Finally, Winning Points Advisors LLC acquired a new position in ImmunityBio during the fourth quarter worth $1,430,000. Institutional investors own 8.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. Jefferies Financial Group raised ImmunityBio to a “strong-buy” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.