Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $862,455.22 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX) Director Christobel Selecky sold 95,722 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $9.01, for a total transaction of $862,455.22. Following the completion of the sale, the director directly owned 32,173 shares in the company, valued at approximately $289,878.73. The trade was a 74.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 30th, Christobel Selecky sold 1,000 shares of ImmunityBio stock. The stock was sold at an average price of $9.00, for a total transaction of $9,000.00.

ImmunityBio Stock Performance

NASDAQ IBRX traded up $0.44 during trading on Wednesday, reaching $9.20. 16,295,448 shares of the company traded hands, compared to its average volume of 26,385,029. ImmunityBio, Inc. has a 1-year low of $1.95 and a 1-year high of $12.43. The company has a market cap of $9.64 billion, a price-to-earnings ratio of -10.82 and a beta of 0.03. The stock’s 50 day moving average price is $7.63 and its two-hundred day moving average price is $6.62.

ImmunityBio (NASDAQ:IBRX) last issued 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 during the quarter, compared to the consensus estimate of $43.07 million. Equities research analysts expect that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently bought and sold shares of IBRX. Western Wealth Management LLC acquired a new stake in ImmunityBio during the 1st quarter worth $44,000. Geneos Wealth Management Inc. lifted its stake in shares of ImmunityBio by 579.3% in the 1st 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 boosted its position in shares of ImmunityBio by 67.1% in the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock worth $45,000 after purchasing an additional 2,358 shares during the last quarter. Hodges Capital Management Inc. bought a new position in shares of ImmunityBio in the 1st quarter worth $77,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of ImmunityBio during the first quarter worth $78,000. 8.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBRX has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. BTIG Research restated a “buy” rating and set a $12.00 target price on shares of ImmunityBio in a research 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 note on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of ImmunityBio in a report on Tuesday, June 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.