ImmunityBio, Inc. (NASDAQ:IBRX – Free Report) – Equities researchers at HC Wainwright raised their FY2028 EPS estimates for shares of ImmunityBio in a research report issued to clients and investors on Thursday, October 15th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of $0.82 per share for the year, up from their previous estimate of $0.54. HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for ImmunityBio’s current full-year earnings is ($0.44) per share. HC Wainwright also issued estimates for ImmunityBio’s FY2029 earnings at $1.22 EPS and FY2030 earnings at $1.87 EPS.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $51.24 million for the quarter, compared to analysts’ expectations of $49.70 million.
A number of other equities analysts also recently commented on IBRX. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, October 6th. Jefferies Financial Group increased their target price on ImmunityBio from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of ImmunityBio in a research report on Wednesday, October 14th. Six 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 stock has an average rating of “Moderate Buy” and an average price target of $16.00.
Check Out Our Latest Analysis on IBRX
ImmunityBio Stock Down 8.3%
Shares of IBRX stock opened at $8.42 on Monday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of -8.68 and a beta of 0.02. The company’s 50 day moving average is $8.59 and its 200 day moving average is $7.98. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43.
Institutional Investors Weigh In On ImmunityBio
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBRX. Sigma Planning Corp lifted its holdings in shares of ImmunityBio by 7.3% during the second quarter. Sigma Planning Corp now owns 19,015 shares of the company’s stock worth $166,000 after purchasing an additional 1,300 shares during the period. Archer Investment Corp boosted its position in ImmunityBio by 67.1% in the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after buying an additional 2,358 shares during the last quarter. Winning Points Advisors LLC increased its holdings in ImmunityBio by 0.4% in the 2nd quarter. Winning Points Advisors LLC now owns 726,258 shares of the company’s stock worth $2,287,000 after buying an additional 2,685 shares during the period. GAMMA Investing LLC increased its holdings in ImmunityBio by 262.2% in the 3rd 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, Principal Financial Group Inc. increased its holdings in ImmunityBio by 18.3% in the 1st quarter. Principal Financial Group Inc. now owns 19,710 shares of the company’s stock worth $151,000 after buying an additional 3,050 shares during the period. 8.58% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at ImmunityBio
In other news, Director Cheryl Cohen sold 81,056 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $10.50, for a total value of $851,088.00. Following the completion of the sale, the director owned 100,309 shares of the company’s stock, valued at $1,053,244.50. This trade represents a 44.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the transaction, the director owned 2,777,788 shares in the company, valued at approximately $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 66.10% of the company’s stock.
ImmunityBio Company Profile
ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune response against cancer and infectious diseases. The company’s approach combines immune-system modulators, cellular therapies, vaccines and other technologies intended to address multiple stages of the disease-treatment process.
Its lead product, Anktiva (nogapendekin alfa inbakicept-pmln, also known as N-803), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.
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