Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $1,246,495.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Cheryl Cohen sold 131,210 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total value of $1,246,495.00. Following the sale, the director owned 125,386 shares of the company’s stock, valued at $1,191,167. This represents a 51.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Price Performance

Shares of IBRX opened at $8.80 on Thursday. The stock has a market capitalization of $9.22 billion, a PE ratio of -10.35 and a beta of 0.01. The business’s fifty day moving average price is $7.78 and its 200 day moving average price is $6.91. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. As a group, research analysts anticipate that ImmunityBio, Inc. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ImmunityBio

Large investors have recently added to or reduced their stakes in the stock. Mariner LLC raised its holdings in ImmunityBio by 10.5% in the 4th quarter. Mariner LLC now owns 17,814 shares of the company’s stock worth $35,000 after acquiring an additional 1,689 shares during the period. Sanctuary Advisors LLC lifted its position in ImmunityBio by 6.9% during 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 during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in ImmunityBio by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock valued at $57,000 after acquiring an additional 2,271 shares during the period. Archer Investment Corp grew its position in shares of ImmunityBio by 67.1% in the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in shares of 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. 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.