ImmunityBio, Inc. (NASDAQ:IBRX) Stock Has Average Target Price of $14.20

ImmunityBio, Inc. (NASDAQ:IBRX) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.20.

IBRX has been the subject of several research reports. Jefferies Financial Group upgraded ImmunityBio to a “strong-buy” rating in a report on Friday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday.

Insider Activity at ImmunityBio

In other ImmunityBio news, Director Cheryl Cohen sold 81,056 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total value of $851,088.00. Following the completion of the sale, the director directly owned 100,309 shares of the company’s stock, valued at $1,053,244.50. The trade was a 44.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Simon sold 25,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the transaction, the director owned 2,777,788 shares in the company, valued at approximately $29,861,221. This trade represents a 0.89% 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. Insiders own 66.10% of the company’s stock.

Institutional Investors Weigh In On ImmunityBio

Large investors have recently bought and sold shares of the business. Doliver Advisors LP raised its holdings in ImmunityBio by 110.0% during the third quarter. Doliver Advisors LP now owns 210,000 shares of the company’s stock valued at $1,982,000 after buying an additional 110,000 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of ImmunityBio during the 2nd quarter worth about $1,287,000. Tidal Investments LLC bought a new stake in shares of ImmunityBio during the 2nd quarter worth about $2,207,000. SEB Asset Management AB acquired a new position in shares of ImmunityBio during the 1st quarter valued at about $18,770,000. Finally, Winning Points Advisors LLC acquired a new position in shares of ImmunityBio during the 4th quarter valued at about $1,430,000. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Stock Up 6.1%

ImmunityBio stock opened at $10.51 on Thursday. ImmunityBio has a 12 month low of $1.95 and a 12 month high of $12.43. The stock has a market cap of $11.14 billion, a P/E ratio of -10.83 and a beta of 0.02. The company’s fifty day simple moving average is $8.31 and its 200-day simple moving average is $7.90.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. On average, equities research analysts expect that ImmunityBio will post -0.44 earnings per share for the current fiscal year.

ImmunityBio Company Profile

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.