ImmunityBio, Inc. (NASDAQ:IBRX) Given Consensus Rating of “Moderate Buy” by Brokerages

ImmunityBio, Inc. (NASDAQ:IBRX) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.20.

Several equities analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a report on Thursday, May 21st.

ImmunityBio Stock Up 0.7%

Shares of NASDAQ IBRX opened at $8.77 on Tuesday. The firm’s 50-day moving average price is $7.61 and its two-hundred day moving average price is $6.57. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43. The stock has a market capitalization of $9.19 billion, a P/E ratio of -10.32 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last issued 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 analysts’ expectations of $43.07 million. As a group, equities research analysts expect that ImmunityBio will post -0.31 earnings per share for the current year.

Insider Buying and Selling at ImmunityBio

In other news, Director Barry J. Simon sold 25,000 shares of ImmunityBio stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the sale, the director owned 2,802,788 shares of the company’s stock, valued at approximately $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 66.10% of the company’s stock.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently made changes to their positions in IBRX. Heights Capital Management Inc. bought a new stake in shares of ImmunityBio during the third quarter valued at approximately $16,152,000. Vanguard Group Inc. raised its holdings 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 valued at $68,032,000 after buying an additional 5,837,898 shares during the last quarter. State Street Corp raised its holdings 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 valued at $32,582,000 after buying an additional 5,139,890 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 valued at $12,182,000 after buying an additional 5,012,001 shares during the last quarter. Finally, SEB Asset Management AB bought a new stake in shares of ImmunityBio during the first quarter valued at approximately $18,770,000. Institutional investors own 8.58% of the company’s stock.

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.