ImmunityBio, Inc. (NASDAQ:IBRX) Stock Has Consensus Price Target of $16.00

ImmunityBio, Inc. (NASDAQ:IBRX) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently 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 a report on the stock in the last year is $16.00.

IBRX has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price objective on shares of ImmunityBio in a research note on Wednesday, October 14th. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Thursday, October 15th. Jefferies Financial Group lifted their target price on ImmunityBio from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th.

ImmunityBio Stock Performance

Shares of ImmunityBio stock opened at $8.93 on Monday. ImmunityBio has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The company has a market capitalization of $9.46 billion, a P/E ratio of -9.21 and a beta of 0.17. The company has a fifty day moving average of $8.74 and a 200 day moving average of $7.94.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) 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 the consensus estimate of $49.70 million. Analysts forecast that ImmunityBio will post -0.30 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently bought and sold shares of IBRX. Torrey Growth & Income Advisors boosted its holdings in ImmunityBio by 11.7% in the third quarter. Torrey Growth & Income Advisors now owns 132,775 shares of the company’s stock worth $1,245,000 after acquiring an additional 13,915 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of ImmunityBio during the third quarter worth about $193,000. Calamos Advisors LLC acquired a new position in shares of ImmunityBio during the third quarter valued at about $937,000. Kestra Advisory Services LLC increased its holdings in shares of ImmunityBio by 4.3% during the third quarter. Kestra Advisory Services LLC now owns 115,410 shares of the company’s stock valued at $1,089,000 after acquiring an additional 4,780 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of ImmunityBio by 1.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 145,829 shares of the company’s stock valued at $1,377,000 after purchasing an additional 2,113 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune response against cancer and infectious diseases. The company’s approach combines immune-system modulators, cellular therapies, vaccines and other technologies intended to address multiple stages of the disease-treatment process.

Its lead product, Anktiva (nogapendekin alfa inbakicept-pmln, also known as N-803), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.