ImmunityBio (NASDAQ:IBRX – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Thursday, MarketBeat reports. They currently have a $15.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 48.43% from the company’s previous close.
A number of other equities analysts also recently commented on IBRX. Jefferies Financial Group restated a “buy” rating and set a $14.00 target price on shares of ImmunityBio in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th. Finally, Piper Sandler restated an “overweight” rating and set a $16.00 target price on shares of ImmunityBio in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ImmunityBio presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.
Check Out Our Latest Research Report on IBRX
ImmunityBio Trading Up 2.0%
ImmunityBio (NASDAQ:IBRX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. Analysts predict that ImmunityBio will post -0.44 earnings per share for the current year.
Insider Activity at ImmunityBio
In other ImmunityBio news, Director Cheryl Cohen sold 81,056 shares of ImmunityBio stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $10.50, for a total transaction of $851,088.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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 ImmunityBio stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $10.75, for a total value of $268,750.00. Following the sale, the director directly owned 2,777,788 shares in the company, valued at approximately $29,861,221. The trade was a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in ImmunityBio by 29.4% in the second quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock worth $298,399,000 after purchasing an additional 7,736,819 shares in the last quarter. State Street Corp raised its holdings in ImmunityBio by 20.8% in the second quarter. State Street Corp now owns 21,398,438 shares of the company’s stock worth $187,343,000 after purchasing an additional 3,690,335 shares in the last quarter. Bank of America Corp DE raised its holdings in ImmunityBio by 2.7% in the first quarter. Bank of America Corp DE now owns 2,447,843 shares of the company’s stock worth $18,775,000 after purchasing an additional 65,340 shares in the last quarter. SEB Asset Management AB bought a new position in ImmunityBio in the first quarter worth $18,770,000. Finally, Private Advisor Group LLC raised its holdings in ImmunityBio by 923.5% in the first quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock worth $12,644,000 after purchasing an additional 1,487,482 shares in the last quarter. 8.58% of the stock is owned by institutional investors.
Key Headlines Impacting ImmunityBio
Here are the key news stories impacting ImmunityBio this week:
- Positive Sentiment: FDA expands ANKTIVA approval: The FDA expanded ANKTIVA’s indication, when used with BCG, to include patients with BCG-unresponsive non-muscle-invasive bladder cancer (NMIBC) with papillary-only tumors. The broader label now covers both papillary and carcinoma-in-situ disease, increasing the addressable market and potentially supporting future sales growth. The approval also arrived months ahead of the expected deadline, reinforcing the regulatory momentum behind ImmunityBio’s commercial-stage product. FDA Expands ANKTIVA Approval for BCG-Unresponsive Non-Muscle-Invasive Bladder Cancer to Cover Both Papillary and CIS Disease
- Positive Sentiment: Analyst remains bullish: HC Wainwright reaffirmed its “buy” rating and set a $15 price target, implying approximately 45.8% upside from the referenced $10.29 level. The target signals continued confidence in ANKTIVA’s commercial opportunity and ImmunityBio’s growth prospects.
- Neutral Sentiment: Increased investor and strategic interest: Reports noted that funds were raising their positions in ImmunityBio and that Johnson & Johnson remains attentive to potential deals. These developments may improve sentiment, but there is no announced transaction involving ImmunityBio, so any takeover or partnership implications remain speculative. Funds Raise Their Bets as J&J Stays on the Lookout 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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