ImmunityBio, Inc. (NASDAQ:IBRX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.80.

A number of equities research analysts have recently weighed in on the company. HC Wainwright boosted their target price on ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. BTIG Research upped their target price on shares of ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Jefferies Financial Group lifted their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Piper Sandler boosted their price target on shares of ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th.

ImmunityBio Trading Up 5.8%

Shares of IBRX stock opened at $6.25 on Friday. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $8.28. The firm’s 50 day moving average is $3.14 and its 200-day moving average is $2.69. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of -15.24 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The company had revenue of $32.06 million during the quarter, compared to the consensus estimate of $31.88 million. On average, equities research analysts forecast that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ImmunityBio

In other news, Director Barry J. Simon sold 151,967 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. This represents a 4.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christobel Selecky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.51, for a total value of $187,750.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,967 shares of company stock valued at $1,531,912 in the last quarter. Corporate insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC bought a new position in ImmunityBio during the second quarter worth about $20,497,000. AlphaCore Capital LLC acquired a new stake in shares of ImmunityBio during the second quarter worth about $7,854,000. Geode Capital Management LLC lifted its holdings in shares of ImmunityBio by 34.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock valued at $15,254,000 after purchasing an additional 1,487,849 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of ImmunityBio during the 2nd quarter valued at about $70,000. Finally, Blair William & Co. IL grew its position in shares of ImmunityBio by 2.7% in the 2nd quarter. Blair William & Co. IL now owns 239,814 shares of the company’s stock valued at $633,000 after purchasing an additional 6,314 shares during the period. 8.58% of the stock is owned by institutional investors.

About ImmunityBio

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.