Key Points
- ImmunityBio director Barry Simon sold 23,033 shares on June 4 at an average price of $7.18, totaling about $165,377. The sale was made under a pre-arranged Rule 10b5-1 plan, and his stake fell by 0.81%.
- The stock traded lower after the disclosure, opening at $6.92 and falling 5.1% on Friday. ImmunityBio has ranged from a 12-month low of $1.95 to a high of $12.43.
- Recent earnings missed expectations, with the company reporting an EPS loss of $0.62 versus the expected loss of $0.08, though revenue of $44.21 million came in slightly above estimates. Analysts still hold a Moderate Buy consensus with an average price target of $14.20.
ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) Director Barry Simon sold 23,033 shares of ImmunityBio stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $7.18, for a total transaction of $165,376.94. Following the completion of the sale, the director owned 2,827,788 shares of the company's stock, valued at approximately $20,303,517.84. This trade represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ImmunityBio Trading Down 5.1%
Shares of NASDAQ:IBRX opened at $6.92 on Friday. The company has a fifty day simple moving average of $7.56 and a 200 day simple moving average of $5.95. The firm has a market cap of $7.25 billion, a PE ratio of -8.14 and a beta of 0.03. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.54). The company had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.07 million. As a group, equities research analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.
Analyst Ratings Changes
IBRX has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a research note on Tuesday, April 14th. HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday. Piper Sandler reiterated an "overweight" rating and set a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. D. Boral Capital reiterated a "buy" rating and set a $23.00 target price on shares of ImmunityBio in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of ImmunityBio in a research note on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.20.
Read Our Latest Stock Report on ImmunityBio
Institutional Trading of ImmunityBio
Institutional investors have recently added to or reduced their stakes in the business. Heights Capital Management Inc. bought a new position in shares of ImmunityBio during the third quarter worth about $16,152,000. Vanguard Group Inc. grew 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 worth $68,032,000 after acquiring an additional 5,837,898 shares during the last quarter. State Street Corp grew its position in shares of ImmunityBio by 45.4% during the fourth quarter. State Street Corp now owns 16,455,703 shares of the company's stock worth $32,582,000 after acquiring an additional 5,139,890 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of ImmunityBio by 439.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company's stock worth $12,182,000 after acquiring an additional 5,012,001 shares during the last quarter. Finally, SEB Asset Management AB bought a new position in shares of ImmunityBio during the first quarter worth about $18,770,000. Institutional investors own 8.58% of the company's stock.
About ImmunityBio
(
Get Free Report)
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.
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