Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $165,376.94 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 23,033 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $7.18, for a total value of $165,376.94. Following the sale, the director directly owned 2,827,788 shares in the company, valued at approximately $20,303,517.84. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Price Performance

NASDAQ IBRX opened at $6.92 on Monday. ImmunityBio, Inc. has a twelve month low of $1.95 and a twelve month high of $12.43. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -8.14 and a beta of 0.03. The business’s fifty day moving average is $7.56 and its 200 day moving average is $5.98.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate 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. On average, research analysts anticipate that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a report on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in ImmunityBio by 347.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,324,871 shares of the company’s stock worth $3,246,000 after buying an additional 1,028,921 shares during the period. Heights Capital Management Inc. acquired a new position in ImmunityBio during the 3rd quarter worth about $16,152,000. Vanguard Group Inc. lifted its holdings in ImmunityBio by 26.8% during the 3rd quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company’s stock worth $68,032,000 after buying an additional 5,837,898 shares during the period. Rafferty Asset Management LLC lifted its holdings in ImmunityBio by 79.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 452,458 shares of the company’s stock worth $1,113,000 after buying an additional 199,990 shares during the period. Finally, MOR Wealth Management LLC acquired a new position in ImmunityBio during the 4th quarter worth about $494,000. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

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.