Key Points
- ImmunityBio director Barry Simon sold 25,000 shares on June 24 at an average price of $7.88, totaling about $197,000. The transaction was made under a pre-arranged Rule 10b5-1 plan.
- The stock has been trading higher, with IBRX up 11.8% and opening at $8.71 on Friday. It has a market cap of about $9.12 billion and has ranged from $1.95 to $12.43 over the past 12 months.
- Analysts are broadly constructive on the name despite mixed fundamentals: the company recently reported a quarterly EPS miss, but six analysts rate it a Buy and the consensus target price is $14.20.
ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) Director Barry Simon sold 25,000 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total value of $197,000.00. Following the transaction, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ImmunityBio Stock Up 11.8%
Shares of IBRX stock opened at $8.71 on Friday. The stock has a 50-day moving average price of $7.58 and a 200 day moving average price of $6.50. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -10.25 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 released its 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 business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. Sell-side analysts predict that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ImmunityBio
Institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC increased its stake in ImmunityBio by 10.5% during the 4th quarter. Mariner LLC now owns 17,814 shares of the company's stock worth $35,000 after purchasing an additional 1,689 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in ImmunityBio by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock valued at $59,000 after buying an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in ImmunityBio by 8.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock valued at $57,000 after buying an additional 2,271 shares in the last quarter. Archer Investment Corp boosted its holdings in shares of ImmunityBio by 67.1% in the first quarter. Archer Investment Corp now owns 5,872 shares of the company's stock valued at $45,000 after buying an additional 2,358 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in shares of ImmunityBio by 9.0% in the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock valued at $60,000 after buying an additional 2,500 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on IBRX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ImmunityBio in a report on Tuesday, April 14th. BTIG Research reissued a "buy" rating and issued a $12.00 price target on shares of ImmunityBio in a research note on Thursday, May 21st. HC Wainwright restated a "buy" rating and issued a $15.00 price target on shares of ImmunityBio in a research report on Tuesday, June 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.20.
Check Out Our Latest Report on IBRX
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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