Barry Simon Sells 23,033 Shares of ImmunityBio (NASDAQ:IBRX) Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 23,033 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $7.18, for a total value of $165,376.94. Following the completion of the sale, the director directly owned 2,827,788 shares in the company, valued at approximately $20,303,517.84. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Trading Down 5.1%

Shares of ImmunityBio stock traded down $0.37 during mid-day trading on Friday, reaching $6.92. 13,794,163 shares of the stock were exchanged, compared to its average volume of 28,435,240. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -8.14 and a beta of 0.03. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The firm has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $5.95.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.07 million. On average, research analysts predict that ImmunityBio, Inc. will post -0.31 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. Truist Financial Corp acquired a new stake in ImmunityBio in the 3rd quarter valued at $27,000. Swiss Life Asset Management Ltd acquired a new position in shares of ImmunityBio during the 3rd quarter worth about $27,000. WealthPlan Investment Management LLC bought a new position in shares of ImmunityBio in the 4th quarter valued at about $27,000. Diversify Advisory Services LLC acquired a new stake in shares of ImmunityBio in the second quarter valued at about $27,000. Finally, Kovack Advisors Inc. acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $27,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBRX. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of ImmunityBio in a research note on Tuesday, May 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ImmunityBio currently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

About ImmunityBio

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.