ImmunityBio (NASDAQ:IBRX – Get Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 46.79% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued 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 issued a $16.00 target price on shares of ImmunityBio in a report on Wednesday. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.
Get Our Latest Stock Report on ImmunityBio
ImmunityBio Price Performance
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 the consensus estimate of ($0.08) by ($0.14). The company had revenue of $51.24 million for the quarter, compared to the consensus estimate of $49.70 million. On average, equities research analysts expect that ImmunityBio will post -0.44 earnings per share for the current fiscal year.
Insider Activity at ImmunityBio
In other ImmunityBio news, Director Cheryl Cohen sold 81,056 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total value of $851,088.00. Following the transaction, the director directly owned 100,309 shares in the company, valued at approximately $1,053,244.50. This trade represents a 44.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the completion of the transaction, the director owned 2,777,788 shares in the company, valued at $29,861,221. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 66.10% of the stock is currently owned by company insiders.
Institutional Trading of ImmunityBio
A number of hedge funds and other institutional investors have recently modified their holdings of IBRX. Markowski Investments purchased a new position in shares of ImmunityBio in the 2nd quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of 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 in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of ImmunityBio by 579.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock worth $44,000 after buying an additional 4,907 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of ImmunityBio in the 1st quarter worth $44,000. Finally, Hollencrest Capital Management purchased a new position in shares of ImmunityBio in the 2nd quarter worth $44,000. 8.58% of the stock is owned by hedge funds and other institutional investors.
ImmunityBio News Roundup
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
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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