ImmunityBio (NASDAQ:IBRX – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Thursday, Marketbeat Ratings reports. They presently have a $15.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 50.00% from the stock’s current price.
IBRX has been the topic of several other reports. Jefferies Financial Group boosted their price target on ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $16.00 target price on shares of ImmunityBio in a research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.00.
Get Our Latest Analysis on ImmunityBio
ImmunityBio Price Performance
IBRX stock traded up $0.09 during midday trading on Thursday, reaching $10.00. 19,857,105 shares of the stock were exchanged, compared to its average volume of 20,600,699. The stock has a market capitalization of $10.60 billion, a PE ratio of -10.31 and a beta of 0.02. ImmunityBio has a 52 week low of $1.95 and a 52 week high of $12.43. The company has a fifty day moving average price of $8.48 and a 200 day moving average price of $7.94.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to analyst estimates of $49.70 million. As a group, analysts anticipate that ImmunityBio will post -0.44 earnings per share for the current fiscal year.
Insider Transactions at ImmunityBio
In other ImmunityBio news, Director Barry Simon sold 25,000 shares of the company’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 in the company, valued at approximately $29,861,221. The trade was a 0.89% decrease in their position. The transaction was disclosed in a 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 Cheryl Cohen sold 81,056 shares of the 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 of the company’s stock, 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. Insiders own 66.10% of the company’s stock.
Institutional Trading of ImmunityBio
Several institutional investors have recently added to or reduced their stakes in the stock. Fortress Financial Solutions LLC bought a new position in ImmunityBio during the 3rd quarter worth approximately $105,000. Firethorn Wealth Partners LLC boosted its stake in shares of ImmunityBio by 107.9% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 25,475 shares of the company’s stock valued at $240,000 after purchasing an additional 13,219 shares during the last quarter. Courier Capital LLC boosted its stake in shares of ImmunityBio by 100.0% in the 3rd quarter. Courier Capital LLC now owns 112,000 shares of the company’s stock valued at $1,057,000 after purchasing an additional 56,000 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ImmunityBio by 262.2% during the third quarter. GAMMA Investing LLC now owns 3,807 shares of the company’s stock worth $36,000 after buying an additional 2,756 shares during the period. Finally, Collective Family Office LLC increased its position in shares of ImmunityBio by 2.6% during the third quarter. Collective Family Office LLC now owns 161,254 shares of the company’s stock worth $1,522,000 after buying an additional 4,054 shares during the period. 8.58% of the stock is currently owned by institutional investors.
ImmunityBio News Roundup
Here are the key news stories impacting ImmunityBio this week:
- Positive Sentiment: The FDA expanded ANKTIVA’s approval, in combination with BCG, to include patients with BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC) whose tumors are papillary-only. The label previously covered carcinoma in situ (CIS) disease, so the decision broadens ANKTIVA’s eligible patient population and potential sales. FDA Expands ANKTIVA Approval for BCG-Unresponsive NMIBC
- Positive Sentiment: The expanded indication came months ahead of the expected regulatory deadline, reducing uncertainty and allowing ImmunityBio to pursue the larger market sooner. The development has been identified as the primary catalyst behind the stock’s rally. ImmunityBio Stock Climbs: What’s Going On?
- Positive Sentiment: HC Wainwright reaffirmed its “Buy” rating and set a $15 price target, implying approximately 49.8% upside from the cited $10.02 reference price. The target reflects expectations that the broader label can improve ANKTIVA adoption and revenue potential.
- Neutral Sentiment: Reports also noted increased fund interest in ImmunityBio and continued speculation about potential pharmaceutical deal activity involving Johnson & Johnson. These items may support sentiment, but no transaction involving IBRX was announced. Funds Raise Bets as J&J Looks for Deals
About ImmunityBio
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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