ImmunityBio, Inc. (NASDAQ:IBRX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ImmunityBio, Inc. (NASDAQ:IBRX) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.20.

IBRX has been the topic of several recent analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Friday, July 10th. Finally, BTIG Research reiterated a “buy” rating and set a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st.

ImmunityBio Price Performance

IBRX opened at $7.10 on Friday. ImmunityBio has a one year low of $1.95 and a one year high of $12.43. The business has a 50 day simple moving average of $7.77 and a two-hundred day simple moving average of $7.35. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of -8.35 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX) last posted its 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 firm had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.07 million. As a group, sell-side analysts expect that ImmunityBio will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cheryl Cohen sold 131,210 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the sale, the director owned 125,386 shares in the company, valued at approximately $1,191,167. The trade was a 51.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 435,443 shares of company stock valued at $3,918,819 over the last ninety days. Company insiders own 66.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the third quarter worth about $27,000. WealthPlan Investment Management LLC bought a new position in shares of ImmunityBio during the fourth quarter valued at approximately $27,000. Diversify Advisory Services LLC purchased a new position in shares of ImmunityBio during the second quarter valued at approximately $27,000. Kovack Advisors Inc. purchased a new position in shares of ImmunityBio during the fourth quarter valued at approximately $27,000. Finally, Cherry Creek Investment Advisors Inc. bought a new stake in shares of ImmunityBio in the 4th quarter worth approximately $28,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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.