Barry Simon Sells 25,000 Shares of ImmunityBio (NASDAQ:IBRX) Stock

by · The Cerbat Gem

ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) Director Barry Simon sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was 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 $22,085,969.44. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Trading Up 11.8%

NASDAQ IBRX traded up $0.92 on Friday, hitting $8.71. The company’s stock had a trading volume of 41,041,779 shares, compared to its average volume of 11,437,031. The firm has a market cap of $9.12 billion, a P/E 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. The company’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $6.50.

ImmunityBio (NASDAQ:IBRX – Get Free Report) 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. On average, research analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of ImmunityBio in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research report on Tuesday, April 14th. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Tuesday, June 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.20.

View Our Latest Stock Report on IBRX

Institutional Investors Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently made changes to their positions in IBRX. AQR Capital Management LLC lifted its position in ImmunityBio by 193.4% during the first quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock valued at $134,000 after purchasing an additional 29,297 shares during the period. Creative Planning raised its stake in ImmunityBio by 9.2% during the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after buying an additional 5,231 shares during the last quarter. Cetera Investment Advisers raised its stake in ImmunityBio by 56.9% during the 2nd quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock valued at $49,000 after buying an additional 6,731 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ImmunityBio by 5.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock valued at $2,829,000 after buying an additional 52,782 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of ImmunityBio by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock worth $542,000 after buying an additional 21,715 shares during the last quarter. Institutional investors own 8.58% of the company’s stock.

About ImmunityBio

(Get Free Report)

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.

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