Christobel Selecky Sells 159,478 Shares of ImmunityBio (NASDAQ:IBRX) Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Christobel Selecky sold 159,478 shares of ImmunityBio stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the transaction, the director owned 35,064 shares of the company’s stock, valued at $316,277.28. This represents a 81.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christobel Selecky also recently made the following trade(s):

• On Monday, June 29th, Christobel Selecky sold 95,722 shares of ImmunityBio stock. The stock was sold at an average price of $9.01, for a total value of $862,455.22.
• On Tuesday, June 30th, Christobel Selecky sold 1,000 shares of ImmunityBio stock. The shares were sold at an average price of $9.00, for a total value of $9,000.00.

ImmunityBio Trading Down 1.7%

Shares of ImmunityBio stock opened at $8.76 on Wednesday. The company has a market capitalization of $9.17 billion, a P/E ratio of -10.31 and a beta of 0.01. The stock has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $6.86. ImmunityBio, Inc. has a 12-month low of $1.95 and a 12-month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) 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, analysts predict that ImmunityBio, Inc. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Several large investors have recently modified their holdings of the business. 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 valued at $134,000 after buying an additional 29,297 shares in the last quarter. Creative Planning grew its stake in ImmunityBio by 9.2% in 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 in the last quarter. Cetera Investment Advisers raised its holdings 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 acquiring an additional 6,731 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 52,782 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of ImmunityBio by 11.8% during the second quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock worth $542,000 after acquiring an additional 21,715 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research note on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, ImmunityBio has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

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.