ImmunityBio (NASDAQ:IBRX) Shares Up 10.3% – Here’s What Happened

by · The Markets Daily

ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report)’s stock price traded up 10.3% during mid-day trading on Tuesday. The company traded as high as $8.57 and last traded at $8.6150. 4,103,782 shares were traded during mid-day trading, a decline of 80% from the average session volume of 20,299,053 shares. The stock had previously closed at $7.81.

Analysts Set New Price Targets

IBRX has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective on shares of ImmunityBio in a research note on Wednesday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research report on Thursday, October 15th. Jefferies Financial Group boosted their target price on shares of ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Get Our Latest Stock Analysis on IBRX

ImmunityBio Price Performance

The business has a 50-day moving average price of $8.65 and a two-hundred day moving average price of $7.73. The firm has a market cap of $9.04 billion, a PE ratio of -8.79 and a beta of 0.02.

ImmunityBio (NASDAQ:IBRX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $51.24 million for the quarter, compared to the consensus estimate of $49.70 million. Equities analysts expect that ImmunityBio, Inc. will post -0.30 earnings per share for the current fiscal year.

Insider Activity at ImmunityBio

In other ImmunityBio news, Director Barry J. Simon sold 25,000 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $10.75, for a total transaction of $268,750.00. Following the transaction, the director owned 2,777,788 shares of the company’s stock, valued at $29,861,221. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 81,056 shares of ImmunityBio stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the completion of the transaction, the director owned 100,309 shares in the company, valued at approximately $1,053,244.50. This trade represents a 44.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 66.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Compass Wealth Management LLC acquired a new position in ImmunityBio in the third quarter valued at $29,000. Markowski Investments purchased a new position in ImmunityBio in the second quarter valued at approximately $29,000. GAMMA Investing LLC raised its holdings in ImmunityBio by 262.2% in the third quarter. GAMMA Investing LLC now owns 3,807 shares of the company’s stock valued at $36,000 after buying an additional 2,756 shares during the period. Hollencrest Capital Management acquired a new position in ImmunityBio during the second quarter valued at approximately $44,000. Finally, Western Wealth Management LLC purchased a new stake in ImmunityBio during the first quarter worth approximately $44,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

About ImmunityBio

(Get Free Report)

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune response against cancer and infectious diseases. The company’s approach combines immune-system modulators, cellular therapies, vaccines and other technologies intended to address multiple stages of the disease-treatment process.

Its lead product, Anktiva (nogapendekin alfa inbakicept-pmln, also known as N-803), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.

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