ImmunityBio (NASDAQ:IBRX) Director Barry Simon Sells 75,000 Shares of Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 75,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total transaction of $900,750.00. Following the transaction, the director owned 2,850,821 shares of the company’s stock, valued at $34,238,360.21. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $9.55 on Friday. The company has a market capitalization of $9.82 billion, a P/E ratio of -25.13 and a beta of 0.16. The company has a fifty day moving average of $5.12 and a 200-day moving average of $3.32. ImmunityBio, Inc. has a 52-week low of $1.83 and a 52-week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $38.29 million for the quarter. As a group, analysts forecast that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of large investors have recently added to or reduced their stakes in the company. Slow Capital Inc. purchased a new position in shares of ImmunityBio in the third quarter worth $25,000. Truist Financial Corp acquired a new position in ImmunityBio in the third quarter valued at approximately $27,000. Swiss Life Asset Management Ltd purchased a new stake in shares of ImmunityBio during the 3rd quarter worth about $27,000. WealthPlan Investment Management LLC purchased a new position in shares of ImmunityBio in the 4th quarter valued at about $27,000. Finally, Diversify Advisory Services LLC acquired a new stake in ImmunityBio in the second quarter valued at approximately $27,000. 8.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. HC Wainwright upped their price target on shares of ImmunityBio from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday. D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. Piper Sandler increased their price target on ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of ImmunityBio in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, ImmunityBio presently has an average rating of “Moderate Buy” and an average target price of $12.60.

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.