Analysts Set ImmunityBio, Inc. (NASDAQ:IBRX) PT at $14.20

ImmunityBio, Inc. (NASDAQ:IBRX) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.20.

A number of research analysts recently commented on IBRX shares. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of ImmunityBio in a research report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of ImmunityBio in a research report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and set a $12.00 target price on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th.

ImmunityBio Price Performance

ImmunityBio stock traded down $0.38 during mid-day trading on Tuesday, hitting $8.54. The company’s stock had a trading volume of 4,819,613 shares, compared to its average volume of 26,018,980. The firm’s 50 day moving average is $7.72 and its 200 day moving average is $6.81. The company has a market cap of $8.94 billion, a PE ratio of -10.08 and a beta of 0.01. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. As a group, analysts forecast that ImmunityBio will post -0.31 EPS for the current year.

Insider Activity at ImmunityBio

In other news, Director Christobel Selecky sold 159,478 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director directly owned 35,064 shares of the company’s stock, valued at $316,277.28. This trade represents a 81.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 131,210 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $9.50, for a total value of $1,246,495.00. Following the sale, the director directly owned 125,386 shares of the company’s stock, valued at $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 435,443 shares of company stock valued at $3,918,819. Insiders own 66.10% of the company’s stock.

Hedge Funds Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd acquired a new position in ImmunityBio in the 3rd quarter valued at $27,000. WealthPlan Investment Management LLC acquired a new position in ImmunityBio during the 4th quarter worth $27,000. Diversify Advisory Services LLC bought a new stake in ImmunityBio during the second quarter valued at about $27,000. Kovack Advisors Inc. bought a new stake in ImmunityBio during the fourth quarter valued at about $27,000. Finally, Cherry Creek Investment Advisors Inc. acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $28,000. 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.