ImmunityBio (NASDAQ:IBRX) Stock Price Up 1.2% – Here’s Why

by · The Markets Daily

ImmunityBio, Inc. (NASDAQ:IBRXGet Free Report)’s stock price shot up 1.2% during trading on Tuesday . The company traded as high as $6.28 and last traded at $6.02. 14,482,076 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 41,236,840 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on IBRX

ImmunityBio Stock Up 1.2%

The company has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $2.96.

Insiders Place Their Bets

In related news, Director Christobel Selecky sold 50,000 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry J. Simon sold 151,967 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total transaction of $1,094,162.40. Following the sale, the director directly owned 3,091,604 shares in the company, valued at approximately $22,259,548.80. This represents a 4.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 226,967 shares of company stock valued at $1,531,912. 69.48% of the stock is owned by insiders.

Hedge Funds Weigh In On ImmunityBio

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of ImmunityBio by 193.4% during the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock worth $134,000 after purchasing an additional 29,297 shares during the period. CWM LLC increased its stake in ImmunityBio by 849.2% in the second quarter. CWM LLC now owns 48,715 shares of the company’s stock valued at $129,000 after purchasing an additional 43,583 shares during the last quarter. RFG Advisory LLC purchased a new position in ImmunityBio during the second quarter worth about $103,000. Chicago Partners Investment Group LLC acquired a new stake in ImmunityBio in the 2nd quarter worth about $70,000. Finally, Dillon & Associates Inc. purchased a new stake in ImmunityBio in the 2nd quarter valued at about $68,000. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

(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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