ImmunityBio (NASDAQ:IBRX) Stock Price Up 3.3% – Should You Buy?

ImmunityBio, Inc. (NASDAQ:IBRX) was up 3.3% on Tuesday . The stock traded as high as $6.54 and last traded at $6.33. Approximately 20,944,899 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 49,501,063 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IBRX shares. Jefferies Financial Group boosted their price objective on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler lifted their target price on ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. D. Boral Capital restated a “buy” rating and issued a $24.00 price target on shares of ImmunityBio in a report on Tuesday, January 20th. HC Wainwright raised their price target on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

ImmunityBio Trading Up 3.3%

The firm has a market cap of $6.23 billion, a P/E ratio of -15.44 and a beta of 0.03. The business has a 50-day moving average price of $3.22 and a 200-day moving average price of $2.72.

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

Insider Activity

In related news, Director Christobel Selecky sold 25,000 shares of ImmunityBio stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $7.51, for a total transaction of $187,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barry J. Simon sold 151,967 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total transaction of $1,094,162.40. Following the completion of the transaction, the director directly owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. This trade represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 226,967 shares of company stock valued at $1,531,912. Company insiders own 69.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its position in shares of ImmunityBio by 6.9% in the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock worth $59,000 after acquiring an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in ImmunityBio by 8.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock valued at $57,000 after purchasing an additional 2,271 shares during the last quarter. Mutual Advisors LLC grew its stake in ImmunityBio by 9.0% in the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock valued at $60,000 after purchasing an additional 2,500 shares during the last quarter. Courier Capital LLC grew its stake in ImmunityBio by 12.5% in the second quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock valued at $119,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC raised its holdings in ImmunityBio by 6.4% in the third quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after purchasing an additional 5,000 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other 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.