Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $862,455.22 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Christobel Selecky sold 95,722 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $9.01, for a total transaction of $862,455.22. Following the completion of the transaction, the director owned 32,173 shares of the company’s stock, valued at approximately $289,878.73. This represents a 74.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christobel Selecky also recently made the following trade(s):

• On Tuesday, June 30th, Christobel Selecky sold 1,000 shares of ImmunityBio stock. The shares were sold at an average price of $9.00, for a total transaction of $9,000.00.

ImmunityBio Stock Performance

IBRX stock opened at $9.44 on Friday. ImmunityBio, Inc. has a one year low of $1.95 and a one year high of $12.43. The firm’s fifty day moving average is $7.71 and its 200 day moving average is $6.74. The firm has a market cap of $9.89 billion, a PE ratio of -11.11 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.07 million. Research analysts predict that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

IBRX has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a research report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, D. Boral Capital reiterated a “buy” rating and set a $23.00 target price on shares of ImmunityBio in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in ImmunityBio by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock valued at $64,899,000 after buying an additional 5,122,052 shares in the last quarter. State Street Corp increased its stake in ImmunityBio by 45.4% during the 4th quarter. State Street Corp now owns 16,455,703 shares of the company’s stock worth $32,582,000 after buying an additional 5,139,890 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ImmunityBio by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 7,920,178 shares of the company’s stock valued at $15,684,000 after acquiring an additional 1,030,113 shares during the last quarter. Heights Capital Management Inc. acquired a new position in shares of ImmunityBio during the third quarter valued at approximately $16,152,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of ImmunityBio by 439.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company’s stock valued at $12,182,000 after acquiring an additional 5,012,001 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.