ImmunityBio, Inc. (NASDAQ:IBRX) Stock Has Consensus Price Target of $16.00 According to Brokerages

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.00.

A number of equities research analysts recently weighed in on IBRX shares. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a report on Thursday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, October 6th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target on shares of ImmunityBio in a report on Wednesday, October 14th. Finally, Jefferies Financial Group boosted their target price on ImmunityBio from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th.

ImmunityBio Price Performance

Shares of IBRX opened at $8.64 on Monday. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -8.91 and a beta of 0.17. ImmunityBio has a 1-year low of $1.95 and a 1-year high of $12.43. The firm has a 50 day simple moving average of $8.74 and a 200-day simple moving average of $7.96.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $51.24 million during the quarter, compared to analysts’ expectations of $49.70 million. On average, equities analysts expect that ImmunityBio will post -0.30 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ImmunityBio news, Director Cheryl Cohen sold 81,056 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $10.50, for a total transaction of $851,088.00. Following the sale, the director owned 100,309 shares of the company’s stock, valued at approximately $1,053,244.50. The trade was a 44.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barry J. Simon sold 25,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the completion of the transaction, the director directly owned 2,777,788 shares in the company, valued at $29,861,221. The trade was a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 66.10% of the company’s stock.

Institutional Trading of ImmunityBio

A number of institutional investors have recently bought and sold shares of the company. Sigma Planning Corp increased its stake in shares of ImmunityBio by 7.3% during the 2nd quarter. Sigma Planning Corp now owns 19,015 shares of the company’s stock worth $166,000 after purchasing an additional 1,300 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in ImmunityBio by 2.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 76,000 shares of the company’s stock worth $717,000 after buying an additional 1,500 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in ImmunityBio by 1.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 145,829 shares of the company’s stock valued at $1,377,000 after purchasing an additional 2,113 shares during the last quarter. Archer Investment Corp lifted its holdings in shares of ImmunityBio by 67.1% in the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company’s stock valued at $45,000 after buying an additional 2,358 shares during the period. Finally, Profund Advisors LLC raised its position in ImmunityBio by 1.4% in the third quarter. Profund Advisors LLC now owns 179,021 shares of the company’s stock valued at $1,690,000 after purchasing an additional 2,518 shares during the period. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

About ImmunityBio

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body’s immune response against cancer and infectious diseases. The company’s approach combines immune-system modulators, cellular therapies, vaccines and other technologies intended to address multiple stages of the disease-treatment process.

Its lead product, Anktiva (nogapendekin alfa inbakicept-pmln, also known as N-803), is an interleukin-15 receptor agonist designed to stimulate natural killer cells and T cells.