ImmunityBio (NASDAQ:IBRX) Price Target Raised to $10.00

ImmunityBio (NASDAQ:IBRX) had its target price lifted by HC Wainwright from $8.00 to $10.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for ImmunityBio’s FY2030 earnings at $0.83 EPS.

IBRX has been the subject of a number of other reports. D. Boral Capital reiterated a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a report on Tuesday, January 20th. BTIG Research upped their price target on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Jefferies Financial Group lifted their price objective on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Finally, Piper Sandler raised their price target on ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

ImmunityBio Stock Performance

Shares of ImmunityBio stock opened at $6.15 on Monday. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $8.28. The company’s 50 day moving average price is $2.98 and its 200-day moving average price is $2.65. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -15.00 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $31.88 million. As a group, equities research analysts forecast that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Insider Activity at ImmunityBio

In other news, Director Barry J. Simon sold 151,967 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the completion of the transaction, the director owned 3,091,604 shares of the company’s stock, valued at approximately $22,259,548.80. This represents a 4.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,967 shares of company stock valued at $1,531,912 in the last three months. Corporate insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently modified their holdings of the business. Slow Capital Inc. purchased a new position in ImmunityBio during the 3rd quarter valued at about $25,000. Truist Financial Corp bought a new position in shares of ImmunityBio during the third quarter valued at approximately $27,000. Swiss Life Asset Management Ltd purchased a new position in shares of ImmunityBio during the third quarter valued at approximately $27,000. Diversify Advisory Services LLC bought a new stake in shares of ImmunityBio in the 2nd quarter worth approximately $27,000. Finally, Summit X LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth approximately $28,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.