ImmunityBio (NASDAQ:IBRX) Trading Down 1.9% – Here’s What Happened

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) fell 1.9% on Monday . The company traded as low as $5.93 and last traded at $6.13. 24,189,804 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 50,774,379 shares. The stock had previously closed at $6.25.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IBRX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. HC Wainwright upped their price objective on shares of ImmunityBio from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, January 26th. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a report on Tuesday, January 20th. BTIG Research boosted their target price on ImmunityBio from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Jefferies Financial Group increased their price target on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ImmunityBio currently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

ImmunityBio Stock Performance

The firm’s 50 day moving average price is $3.14 and its two-hundred day moving average price is $2.69. The firm has a market cap of $6.04 billion, a PE ratio of -14.95 and a beta of 0.14.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $32.06 million during the quarter, compared to analyst estimates of $31.88 million. On average, analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at ImmunityBio

In other news, Director Barry J. Simon sold 151,967 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. This represents a 4.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christobel Selecky sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $5.00, for a total value of $250,000.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 226,967 shares of company stock worth $1,531,912. Corporate insiders own 69.48% of the company’s stock.

Institutional Investors Weigh In On ImmunityBio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual Advisors LLC boosted its position in shares of ImmunityBio by 9.0% during the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in ImmunityBio during the fourth quarter worth $224,000. R Squared Ltd boosted its position in shares of ImmunityBio by 101.4% during the fourth quarter. R Squared Ltd now owns 35,180 shares of the company’s stock worth $70,000 after buying an additional 17,710 shares during the period. UBS Group AG grew its stake in shares of ImmunityBio by 18.7% in the fourth quarter. UBS Group AG now owns 1,995,607 shares of the company’s stock valued at $3,951,000 after buying an additional 315,025 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of ImmunityBio by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock valued at $59,000 after buying an additional 1,918 shares in the last quarter. 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.