Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $197,000.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total value of $197,000.00. Following the completion of the sale, the director directly owned 2,802,788 shares in the company, valued at approximately $22,085,969.44. The trade was a 0.88% decrease in their position. The transaction 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 Stock Up 11.8%

Shares of IBRX stock traded up $0.92 during trading on Friday, hitting $8.71. The company had a trading volume of 41,041,779 shares, compared to its average volume of 11,437,031. The stock’s 50-day moving average is $7.58 and its two-hundred day moving average is $6.50. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -10.25 and a beta of 0.03. ImmunityBio, Inc. has a 52 week low of $1.95 and a 52 week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released 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 business had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.07 million. On average, research analysts predict that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC bought a new position in shares of ImmunityBio in the first quarter worth approximately $44,000. Geneos Wealth Management Inc. boosted its position in ImmunityBio by 579.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock valued at $44,000 after buying an additional 4,907 shares during the period. Archer Investment Corp boosted its position in ImmunityBio by 67.1% during the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after buying an additional 2,358 shares during the period. Hodges Capital Management Inc. bought a new stake in ImmunityBio in the 1st quarter worth $77,000. Finally, Aaron Wealth Advisors LLC bought a new stake in ImmunityBio in the 1st quarter worth $78,000. Institutional investors own 8.58% of the company’s stock.

Analyst Ratings Changes

IBRX has been the subject of a number of research reports. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a report on Tuesday, May 5th. Piper Sandler restated an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.20.

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.