Cheryl Cohen Sells 131,210 Shares of ImmunityBio (NASDAQ:IBRX) Stock

ImmunityBio, Inc. (NASDAQ:IBRXGet Free Report) Director Cheryl Cohen sold 131,210 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total value of $1,246,495.00. Following the transaction, the director directly owned 125,386 shares of the company’s stock, valued at $1,191,167. The trade was a 51.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $8.76 on Wednesday. The stock has a market cap of $9.17 billion, a P/E ratio of -10.31 and a beta of 0.01. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The stock has a 50 day simple moving average of $7.75 and a two-hundred day simple moving average of $6.86.

ImmunityBio (NASDAQ:IBRXGet 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 firm had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.07 million. Sell-side analysts predict that ImmunityBio, Inc. will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently modified their holdings of the company. Heights Capital Management Inc. purchased a new stake in ImmunityBio during the third quarter valued at approximately $16,152,000. MOR Wealth Management LLC purchased a new position in shares of ImmunityBio in the fourth quarter worth $494,000. Winning Points Advisors LLC purchased a new position in ImmunityBio during the fourth quarter valued at $1,430,000. Vanguard Group Inc. increased its holdings in ImmunityBio by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after acquiring an additional 5,122,052 shares during the last quarter. Finally, UBS Group AG lifted its stake in ImmunityBio by 18.7% in the 4th quarter. UBS Group AG now owns 1,995,607 shares of the company’s stock worth $3,951,000 after purchasing an additional 315,025 shares in the last quarter. 8.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBRX has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, April 14th. BTIG Research reaffirmed a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. 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. Finally, 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. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio presently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

Check Out Our Latest Stock Analysis on ImmunityBio

About ImmunityBio

(Get Free Report)

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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Insider Buying and Selling by Quarter for ImmunityBio (NASDAQ:IBRX)

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