ImmunityBio, Inc. (NASDAQ:IBRX) Given Consensus Recommendation of “Moderate Buy” by Analysts

ImmunityBio, Inc. (NASDAQ:IBRX) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.20.

A number of analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research report on Tuesday, June 2nd. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of ImmunityBio in a report on Tuesday, May 5th. BTIG Research reissued a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Friday, July 10th.

ImmunityBio Price Performance

ImmunityBio stock opened at $7.17 on Friday. The firm has a market cap of $7.51 billion, a PE ratio of -8.44 and a beta of 0.01. The stock’s fifty day moving average price is $7.70 and its two-hundred day moving average price is $7.52. ImmunityBio has a one year low of $1.95 and a one year high of $12.43.

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

Insider Buying and Selling

In related news, Director Cheryl Cohen sold 131,210 shares of ImmunityBio stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the sale, the director directly owned 125,386 shares in the company, valued at approximately $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 435,443 shares of company stock worth $3,918,819. 66.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBRX. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the 3rd quarter valued at $27,000. WealthPlan Investment Management LLC bought a new position in shares of ImmunityBio in the fourth quarter worth $27,000. Diversify Advisory Services LLC purchased a new position in shares of ImmunityBio in the second quarter valued at $27,000. Kovack Advisors Inc. purchased a new position in shares of ImmunityBio in the fourth quarter valued at $27,000. Finally, Cherry Creek Investment Advisors Inc. bought a new stake in shares of ImmunityBio during the 4th quarter valued at $28,000. 8.58% of the stock is currently 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.