ImmunityBio (NASDAQ:IBRX) Director Barry Simon Sells 25,000 Shares of Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry 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 value of $197,000.00. Following the transaction, the director directly owned 2,802,788 shares of the company’s stock, valued at $22,085,969.44. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Up 11.8%

Shares of NASDAQ IBRX opened at $8.71 on Friday. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43. The company has a market cap of $9.12 billion, a P/E ratio of -10.25 and a beta of 0.03. The business’s 50 day moving average is $7.58 and its two-hundred day moving average is $6.50.

ImmunityBio (NASDAQ:IBRX) last posted 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 firm had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. Sell-side analysts expect that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IBRX has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price target (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. 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. BTIG Research restated a “buy” rating and set a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.20.

Institutional Trading of ImmunityBio

Large investors have recently made changes to their positions in the business. Mariner LLC raised its holdings in shares of ImmunityBio by 10.5% in the fourth quarter. Mariner LLC now owns 17,814 shares of the company’s stock valued at $35,000 after buying an additional 1,689 shares during the last quarter. Sanctuary Advisors LLC increased its position in ImmunityBio by 6.9% in the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock valued at $59,000 after acquiring an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ImmunityBio by 8.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock worth $57,000 after acquiring an additional 2,271 shares during the last quarter. Archer Investment Corp lifted its position in shares of ImmunityBio by 67.1% during the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock worth $45,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in shares of ImmunityBio by 9.0% during 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. Institutional investors own 8.58% of the company’s stock.

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.