Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $268,750.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the transaction, the director directly owned 2,777,788 shares of the company’s stock, valued at $29,861,221. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Up 1.6%

NASDAQ IBRX opened at $9.91 on Friday. The firm’s 50 day moving average is $8.25 and its 200-day moving average is $7.88. The company has a market capitalization of $10.50 billion, a PE ratio of -10.22 and a beta of 0.02. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last announced 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 company had revenue of $51.24 million for the quarter, compared to analyst estimates of $49.70 million. As a group, sell-side analysts expect that ImmunityBio, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on IBRX shares. Weiss Ratings restated 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 equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in ImmunityBio by 262.2% during the third quarter. GAMMA Investing LLC now owns 3,807 shares of the company’s stock worth $36,000 after acquiring an additional 2,756 shares in the last quarter. Collective Family Office LLC grew its position in shares of ImmunityBio by 2.6% in the 3rd quarter. Collective Family Office LLC now owns 161,254 shares of the company’s stock valued at $1,522,000 after acquiring an additional 4,054 shares during the period. Doliver Advisors LP grew its position in shares of ImmunityBio by 110.0% in the 3rd quarter. Doliver Advisors LP now owns 210,000 shares of the company’s stock valued at $1,982,000 after acquiring an additional 110,000 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of ImmunityBio by 52.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 27,659 shares of the company’s stock worth $242,000 after purchasing an additional 9,513 shares during the last quarter. Finally, State Street Corp increased its stake in shares of ImmunityBio by 20.8% during the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company’s stock worth $187,343,000 after purchasing an additional 3,690,335 shares during the last quarter. 8.58% of the stock is owned by institutional investors.

About ImmunityBio

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.