ImmunityBio (NASDAQ:IBRX) Director Sells $1,438,491.56 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director owned 35,064 shares of the company’s stock, valued at approximately $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christobel Selecky also recently made the following trade(s):

• On Monday, June 29th, Christobel Selecky sold 95,722 shares of ImmunityBio stock. The stock was sold at an average price of $9.01, for a total value of $862,455.22.
• On Tuesday, June 30th, Christobel Selecky sold 1,000 shares of ImmunityBio stock. The stock was sold at an average price of $9.00, for a total value of $9,000.00.

ImmunityBio Trading Up 0.5%

Shares of NASDAQ:IBRX opened at $8.80 on Thursday. The firm has a 50 day moving average of $7.78 and a 200-day moving average of $6.91. The stock has a market capitalization of $9.22 billion, a PE ratio of -10.35 and a beta of 0.01. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The company 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $15.00 price objective 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 research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio has an average rating of “Moderate Buy” and an average target price of $14.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBRX. Heights Capital Management Inc. acquired a new stake in ImmunityBio during the 3rd quarter worth about $16,152,000. MOR Wealth Management LLC bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $494,000. Winning Points Advisors LLC bought a new stake in shares of ImmunityBio during the 4th quarter valued at about $1,430,000. Vanguard Group Inc. grew its stake in ImmunityBio by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 32,777,257 shares of the company’s stock worth $64,899,000 after purchasing an additional 5,122,052 shares during the period. Finally, UBS Group AG grew its stake in ImmunityBio by 18.7% during the fourth quarter. UBS Group AG now owns 1,995,607 shares of the company’s stock worth $3,951,000 after purchasing an additional 315,025 shares during the period. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.