Brokerages Set ImmunityBio, Inc. (NASDAQ:IBRX) PT at $14.20

Shares of ImmunityBio, Inc. (NASDAQ:IBRXGet Free Report) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.20.

A number of research analysts recently commented on the company. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a research report on Monday, February 23rd. D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. BTIG Research set a $12.00 price target on ImmunityBio in a research report on Friday, May 8th. Finally, HC Wainwright raised their price target on ImmunityBio from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd.

Get Our Latest Stock Analysis on IBRX

Key Stories Impacting ImmunityBio

Here are the key news stories impacting ImmunityBio this week:

  • Negative Sentiment: Multiple law firms announced or reminded investors about a securities class action against ImmunityBio after the FDA flagged alleged misleading cancer-treatment claims related to Anktiva, raising concerns about possible liability and credibility. Article Title
  • Negative Sentiment: The May 26 lead-plaintiff deadline is being heavily promoted by firms including Faruqi & Faruqi, Rosen, Pomerantz, Berger Montague, the Schall Law Firm, and others, keeping the litigation story in focus and reinforcing downside pressure. Article Title
  • Neutral Sentiment: Founder Patrick Soon-Shiong’s anticipated American Urological Association talk could offer new clinical or strategic commentary on ImmunityBio’s pipeline, but investors are waiting to see whether it changes the narrative. Article Title

ImmunityBio Price Performance

IBRX stock opened at $7.97 on Monday. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of -9.38 and a beta of 0.02. The business’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $5.40. ImmunityBio has a fifty-two week low of $1.95 and a fifty-two week high of $12.43.

ImmunityBio (NASDAQ:IBRXGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The company had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. Research analysts expect that ImmunityBio will post -0.31 EPS for the current year.

Insiders Place Their Bets

In related news, Director Barry J. Simon sold 165,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.25, for a total value of $1,691,250.00. Following the transaction, the director owned 2,925,821 shares in the company, valued at approximately $29,989,665.25. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christobel Selecky sold 25,000 shares of ImmunityBio stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 275,000 shares of company stock worth $2,934,500 in the last 90 days. 69.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IBRX. Slow Capital Inc. acquired a new position in ImmunityBio during the third quarter worth about $25,000. Truist Financial Corp acquired a new position in ImmunityBio during the third quarter worth about $27,000. Swiss Life Asset Management Ltd acquired a new position in ImmunityBio during the third quarter worth about $27,000. WealthPlan Investment Management LLC acquired a new position in ImmunityBio during the fourth quarter worth about $27,000. Finally, Diversify Advisory Services LLC acquired a new position in ImmunityBio during the second quarter worth about $27,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

ImmunityBio Company Profile

(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.

Further Reading

Analyst Recommendations for ImmunityBio (NASDAQ:IBRX)

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