ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report)’s stock price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $8.71, but opened at $8.36. ImmunityBio shares last traded at $8.5060, with a volume of 4,178,461 shares traded.
Specifically, Director Barry J. Simon sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. This represents a 0.88% decrease in their position. The transaction 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.
Wall Street Analyst Weigh In
IBRX has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research report on Tuesday, June 2nd. D. Boral Capital restated a “buy” rating and issued a $23.00 target price on shares of ImmunityBio in a research note on Tuesday, May 5th. 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, Piper Sandler reiterated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.20.
ImmunityBio Stock Performance
The business’s 50 day moving average is $7.58 and its two-hundred day moving average is $6.53. The firm has a market capitalization of $8.95 billion, a PE ratio of -10.05 and a beta of 0.03.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.07 million. As a group, equities research analysts predict that ImmunityBio, Inc. will post -0.31 EPS for the current year.
Institutional Trading of ImmunityBio
A number of institutional investors have recently added to or reduced their stakes in IBRX. Heights Capital Management Inc. purchased a new stake in shares of ImmunityBio in the third quarter worth about $16,152,000. Vanguard Group Inc. grew its stake in ImmunityBio by 26.8% during the third quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company’s stock valued at $68,032,000 after acquiring an additional 5,837,898 shares in the last quarter. Rafferty Asset Management LLC grew its stake in ImmunityBio by 79.2% during the third quarter. Rafferty Asset Management LLC now owns 452,458 shares of the company’s stock valued at $1,113,000 after acquiring an additional 199,990 shares in the last quarter. MOR Wealth Management LLC bought a new stake in ImmunityBio during the 4th quarter worth approximately $494,000. Finally, Winning Points Advisors LLC bought a new stake in ImmunityBio during the 4th quarter worth approximately $1,430,000. Hedge funds and other 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.
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