ImmunityBio (NASDAQ:IBRX) Director Cheryl Cohen Sells 81,056 Shares of Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Cheryl Cohen sold 81,056 shares of the stock in a transaction 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 $1,053,244.50. The trade was a 44.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Price Performance

Shares of IBRX traded down $0.69 during trading hours on Tuesday, hitting $9.69. The stock had a trading volume of 16,841,849 shares, compared to its average volume of 20,774,146. The firm has a market capitalization of $10.27 billion, a PE ratio of -9.99 and a beta of 0.02. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43. The stock has a fifty day moving average price of $8.09 and a 200 day moving average price of $7.86.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to the consensus estimate of $49.70 million. As a group, analysts anticipate that ImmunityBio, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Ratings Changes

IBRX has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of ImmunityBio to a “strong-buy” rating in a research note on Friday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.20.

Institutional Trading of ImmunityBio

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position 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 buying an additional 7,736,819 shares in the last quarter. State Street Corp lifted its position in shares of ImmunityBio by 20.8% during the 2nd quarter. State Street Corp now owns 21,398,438 shares of the company’s stock valued at $187,343,000 after buying an additional 3,690,335 shares in the last quarter. Bank of America Corp DE lifted its position in shares of ImmunityBio by 2.7% during the 1st quarter. Bank of America Corp DE now owns 2,447,843 shares of the company’s stock valued at $18,775,000 after buying an additional 65,340 shares in the last quarter. SEB Asset Management AB bought a new position in shares of ImmunityBio during the 1st quarter valued at approximately $18,770,000. Finally, Private Advisor Group LLC grew its stake in shares of ImmunityBio by 923.5% during the 1st quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company’s stock valued at $12,644,000 after acquiring an additional 1,487,482 shares during the period. Institutional investors own 8.58% 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 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.