ImmunityBio (NASDAQ:IBRX – Get Free Report)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 51.36% from the stock’s current price.
A number of other analysts have also recently issued reports on IBRX. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective on shares of ImmunityBio in a report on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of ImmunityBio in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.
Read Our Latest Report on IBRX
ImmunityBio Price Performance
ImmunityBio (NASDAQ:IBRX – Get Free Report) last issued 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 firm had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. As a group, equities analysts expect that ImmunityBio will post -0.44 EPS for the current fiscal year.
Insider Activity
In other ImmunityBio news, Director Barry Simon sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the sale, the director owned 2,777,788 shares of the company’s stock, valued at $29,861,221. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 81,056 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $10.50, for a total value of $851,088.00. Following the completion of the sale, the director directly owned 100,309 shares in the company, valued at approximately $1,053,244.50. The trade was a 44.69% decrease in their position. 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.
Institutional Trading of ImmunityBio
Institutional investors and hedge funds have recently modified their holdings of the business. Markowski Investments purchased a new stake in shares of ImmunityBio in the 2nd quarter valued at about $29,000. GAMMA Investing LLC increased its position in shares of ImmunityBio by 262.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,807 shares of the company’s stock valued at $36,000 after purchasing an additional 2,756 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of ImmunityBio during the 2nd quarter valued at about $44,000. Western Wealth Management LLC bought a new position in shares of ImmunityBio during the 1st quarter valued at about $44,000. Finally, Geneos Wealth Management Inc. increased its position in shares of ImmunityBio by 579.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock valued at $44,000 after purchasing an additional 4,907 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.
Key Headlines Impacting ImmunityBio
Here are the key news stories impacting ImmunityBio this week:
- Positive Sentiment: The FDA expanded ANKTIVA’s approved use, in combination with BCG, to include patients with BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC) whose tumors are papillary-only. The broader label adds to the drug’s addressable patient population beyond its existing coverage of carcinoma in situ (CIS) disease and could support additional commercial revenue. FDA Expands ANKTIVA Approval
- Positive Sentiment: The FDA decision came months ahead of the expected deadline, reducing regulatory uncertainty and allowing ImmunityBio to pursue the expanded market opportunity sooner. The approval expansion is the primary catalyst behind the stock’s recent strength. ImmunityBio Stock Climbs Thursday
- Positive Sentiment: HC Wainwright reaffirmed its “Buy” rating and assigned a $15 price target, implying substantial upside from the stock’s referenced $9.91 level. The reaffirmation provides additional investor confidence following the FDA announcement.
- Neutral Sentiment: Reports indicate that funds have increased their positions or bullish bets on IBRX, while Johnson & Johnson remains “on the lookout” for potential deals. However, no transaction involving ImmunityBio was announced, so this is speculative rather than a confirmed acquisition catalyst. Funds Raise Bets and J&J Deal Outlook
ImmunityBio Company Profile
ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.
Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.
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