Key Points
- Director Cheryl Cohen sold 81,056 ImmunityBio shares at an average price of $10.50, generating $851,088. The Rule 10b5-1 transaction reduced her direct holdings by 44.69% to 100,309 shares.
- ImmunityBio shares were trading at $9.69, down 6.6%, with a market capitalization of approximately $10.27 billion. The company reported a quarterly loss of $0.22 per share, missing estimates, while revenue of $51.24 million exceeded forecasts.
- Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $14.20, although ratings range from Strong Buy to Sell. Institutional investors own 8.58% of the company.
ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) Director Barry Simon sold 25,000 shares of ImmunityBio stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the transaction, the director owned 2,777,788 shares in the company, valued at approximately $29,861,221. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ImmunityBio Price Performance
Shares of ImmunityBio stock opened at $9.69 on Wednesday. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The business has a 50-day moving average of $8.14 and a two-hundred day moving average of $7.86. The company has a market capitalization of $10.27 billion, a P/E ratio of -9.99 and a beta of 0.02.
ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $51.24 million during the quarter, compared to analyst estimates of $49.70 million. On average, equities analysts anticipate that ImmunityBio, Inc. will post -0.44 EPS for the current fiscal year.
Institutional Trading of ImmunityBio
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sigma Planning Corp grew its stake in shares of ImmunityBio by 7.3% in the second quarter. Sigma Planning Corp now owns 19,015 shares of the company's stock valued at $166,000 after buying an additional 1,300 shares in the last quarter. Archer Investment Corp raised its stake in ImmunityBio by 67.1% in the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company's stock valued at $45,000 after acquiring an additional 2,358 shares during the period. Winning Points Advisors LLC lifted its holdings in ImmunityBio by 0.4% during the 2nd quarter. Winning Points Advisors LLC now owns 726,258 shares of the company's stock valued at $2,287,000 after purchasing an additional 2,685 shares during the last quarter. Principal Financial Group Inc. boosted its position in ImmunityBio by 18.3% during the first quarter. Principal Financial Group Inc. now owns 19,710 shares of the company's stock worth $151,000 after purchasing an additional 3,050 shares during the period. Finally, Markowski Investments bought a new position in ImmunityBio during the second quarter worth $29,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently commented on IBRX. Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. Jefferies Financial Group raised ImmunityBio to a "strong-buy" rating in a research note on Friday, September 25th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.20.
Check Out Our Latest Stock Analysis on IBRX
ImmunityBio Company Profile
(
Get Free Report)
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.
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