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

ImmunityBio, Inc. (NASDAQ:IBRX) has received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $14.20.

A number of research firms have commented on IBRX. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th. BTIG Research reaffirmed a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a research report on Thursday, May 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd.

ImmunityBio Stock Up 8.0%

IBRX stock opened at $8.19 on Wednesday. The firm has a market cap of $8.68 billion, a PE ratio of -8.44 and a beta of 0.03. ImmunityBio has a 12-month low of $1.95 and a 12-month high of $12.43. The business has a 50 day moving average of $7.82 and a 200-day moving average of $7.79.

ImmunityBio (NASDAQ:IBRX) last announced 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 business had revenue of $51.24 million during the quarter, compared to analyst estimates of $49.70 million. On average, research analysts expect that ImmunityBio will post -0.44 earnings per share for the current year.

Insider Buying and Selling at ImmunityBio

In related news, Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. This trade represents a 81.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of ImmunityBio stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total value of $1,246,495.00. Following the completion of the sale, the director directly owned 125,386 shares of the company’s stock, valued at approximately $1,191,167. The trade was a 51.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by corporate insiders.

Institutional Trading of ImmunityBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC purchased a new stake in ImmunityBio during the fourth quarter valued at $27,000. Diversify Advisory Services LLC purchased a new stake in shares of ImmunityBio during the 2nd quarter valued at about $27,000. Kovack Advisors Inc. bought a new stake in ImmunityBio during the fourth quarter worth approximately $27,000. Empowered Funds LLC purchased a new stake in ImmunityBio during the fourth quarter valued at approximately $28,000. Finally, Markowski Investments purchased a new position in shares of ImmunityBio in the 2nd quarter worth approximately $29,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.