Investors Purchase High Volume of ImmunityBio Call Options (NASDAQ:IBRX)

ImmunityBio, Inc. (NASDAQ:IBRX) was the target of some unusual options trading on Friday. Stock investors acquired 51,571 call options on the company. This represents an increase of approximately 50% compared to the average volume of 34,323 call options.

ImmunityBio Trading Down 3.8%

ImmunityBio stock traded down $0.33 on Friday, reaching $8.49. 24,764,249 shares of the stock were exchanged, compared to its average volume of 39,744,219. The stock has a market cap of $8.72 billion, a PE ratio of -22.32 and a beta of -0.03. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $12.43. The firm has a fifty day moving average price of $7.12 and a two-hundred day moving average price of $3.99.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $38.29 million for the quarter. Equities analysts anticipate that ImmunityBio will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IBRX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a report on Tuesday. BTIG Research assumed coverage on shares of ImmunityBio in a report on Thursday, March 12th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Insider Buying and Selling at ImmunityBio

In related news, Director Barry J. Simon sold 165,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.25, for a total value of $1,691,250.00. Following the completion of the sale, the director directly owned 2,925,821 shares of the company’s stock, valued at approximately $29,989,665.25. This represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christobel Selecky sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $5.00, for a total value of $250,000.00. The SEC filing for this sale provides additional information. Insiders have sold 501,967 shares of company stock worth $4,466,412 over the last three months. 69.48% of the stock is owned by insiders.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of ImmunityBio by 193.4% in the first quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock valued at $134,000 after purchasing an additional 29,297 shares in the last quarter. ProShare Advisors LLC boosted its position in ImmunityBio by 21.4% in the 2nd quarter. ProShare Advisors LLC now owns 80,128 shares of the company’s stock valued at $212,000 after buying an additional 14,105 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of ImmunityBio by 1,104.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,815 shares of the company’s stock valued at $36,000 after buying an additional 12,668 shares during the period. Geode Capital Management LLC raised its position in shares of ImmunityBio by 34.7% during the second quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock worth $15,254,000 after acquiring an additional 1,487,849 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of ImmunityBio by 48.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 53,754 shares of the company’s stock valued at $142,000 after acquiring an additional 17,443 shares during the period. 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.