ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.00.
A number of research analysts have weighed in on IBRX shares. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price on shares of ImmunityBio in a report on Wednesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, October 6th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Thursday, October 15th. Finally, Jefferies Financial Group increased their price objective on shares of ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th.
Check Out Our Latest Report on IBRX
ImmunityBio Price Performance
IBRX stock opened at $8.64 on Monday. ImmunityBio has a 1 year low of $1.95 and a 1 year high of $12.43. The company has a market cap of $9.16 billion, a P/E ratio of -8.91 and a beta of 0.17. The stock’s fifty day moving average price is $8.74 and its 200-day moving average price is $7.96.
Insider Activity at ImmunityBio
In related news, Director Cheryl Cohen sold 81,056 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the completion of the sale, the director directly owned 100,309 shares in the company, valued at approximately $1,053,244.50. The trade was a 44.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry Simon sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $10.75, for a total transaction of $268,750.00. Following the sale, the director directly owned 2,777,788 shares of the company’s stock, valued at approximately $29,861,221. This 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. Insiders own 66.10% of the company’s stock.
Institutional Investors Weigh In On ImmunityBio
A number of hedge funds have recently modified their holdings of the business. Doliver Advisors LP raised its stake in ImmunityBio by 110.0% during the 3rd quarter. Doliver Advisors LP now owns 210,000 shares of the company’s stock valued at $1,982,000 after purchasing an additional 110,000 shares during the period. Hussman Strategic Advisors Inc. bought a new position in ImmunityBio in the 2nd quarter worth approximately $1,287,000. Tidal Investments LLC bought a new position in ImmunityBio in the 2nd quarter worth approximately $2,207,000. SEB Asset Management AB purchased a new stake in ImmunityBio during the 1st quarter valued at approximately $18,770,000. Finally, BlackRock Inc. grew its holdings in ImmunityBio by 29.4% during the 2nd quarter. BlackRock Inc. now owns 34,083,262 shares of the company’s stock valued at $298,399,000 after buying an additional 7,736,819 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.
About ImmunityBio
ImmunityBio is a biotechnology company that develops immunotherapies for cancer and infectious diseases. Its research combines approaches including immune-modulating biologics, cell therapies and vaccine-based treatments, with a focus on activating the body’s natural and adaptive immune responses.
The company’s lead product, Anktiva (nogapendekin alfa inbakicept-pmln), received U.S. Food and Drug Administration approval in 2024 for use with Bacillus Calmette-Guérin (BCG) in adults with BCG-unresponsive non-muscle-invasive bladder cancer with carcinoma in situ, with or without papillary tumors.
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