ImmunityBio (NASDAQ:IBRX) Director Barry Simon Sells 23,033 Shares of Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Barry Simon sold 23,033 shares of ImmunityBio stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $7.18, for a total transaction of $165,376.94. Following the transaction, the director directly owned 2,827,788 shares in the company, valued at approximately $20,303,517.84. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Down 5.1%

Shares of IBRX stock opened at $6.92 on Friday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of -8.14 and a beta of 0.03. ImmunityBio, Inc. has a fifty-two week low of $1.95 and a fifty-two week high of $12.43. The firm’s 50 day moving average price is $7.56 and its two-hundred day moving average price is $5.95.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.07 million. On average, equities analysts forecast that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of ImmunityBio in a research report on Tuesday. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, April 14th. D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a research note on Tuesday, May 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective (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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.20.

Institutional Trading of ImmunityBio

Hedge funds have recently made changes to their positions in the company. Western Wealth Management LLC purchased a new stake in shares of ImmunityBio during the first quarter valued at approximately $44,000. Geneos Wealth Management Inc. raised its stake in shares of ImmunityBio by 579.3% during the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company’s stock valued at $44,000 after purchasing an additional 4,907 shares during the period. Archer Investment Corp raised its stake in shares of ImmunityBio by 67.1% during the first quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after purchasing an additional 2,358 shares during the period. Hodges Capital Management Inc. purchased a new stake in shares of ImmunityBio during the first quarter valued at approximately $77,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of ImmunityBio in the first quarter worth $78,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

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.