ImmunityBio (NASDAQ:IBRX) Trading Down 5.3% – Should You Sell?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price fell 5.3% during trading on Tuesday . The stock traded as low as $6.55 and last traded at $6.56. 21,815,904 shares were traded during mid-day trading, a decline of 51% from the average session volume of 44,203,199 shares. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IBRX. HC Wainwright upped their target price on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. D. Boral Capital reaffirmed a “buy” rating and issued a $24.00 target price on shares of ImmunityBio in a report on Tuesday, January 20th. Piper Sandler increased their price target on ImmunityBio from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, BTIG Research raised their price target on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ImmunityBio has an average rating of “Moderate Buy” and a consensus price target of $11.80.

ImmunityBio Stock Performance

The company has a market cap of $6.46 billion, a PE ratio of -16.00 and a beta of 0.14. The company has a fifty day moving average of $3.61 and a two-hundred day moving average of $2.83.

Insider Buying and Selling at ImmunityBio

In related news, Director Christobel Selecky sold 25,000 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $7.51, for a total value of $187,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barry J. Simon sold 151,967 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director directly owned 3,091,604 shares in the company, valued at approximately $22,259,548.80. This represents a 4.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 226,967 shares of company stock worth $1,531,912. Insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC boosted its stake in shares of ImmunityBio by 6.9% during the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock valued at $59,000 after purchasing an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of ImmunityBio by 8.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock valued at $57,000 after acquiring an additional 2,271 shares during the period. Mutual Advisors LLC raised its position in shares of ImmunityBio by 9.0% in the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after acquiring an additional 2,500 shares in the last quarter. Courier Capital LLC raised its position in shares of ImmunityBio by 12.5% in the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock worth $119,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC lifted its stake in shares of ImmunityBio by 6.4% during the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after purchasing an additional 5,000 shares during the last quarter. 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.