ImmunityBio, Inc. (NASDAQ:IBRX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ImmunityBio, Inc. (NASDAQ:IBRXGet Free Report) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.20.

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. HC Wainwright lifted their price objective on ImmunityBio from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. Finally, BTIG Research set a $12.00 price objective on ImmunityBio in a report on Friday.

View Our Latest Analysis on ImmunityBio

Insider Activity

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of ImmunityBio stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Simon sold 75,000 shares of ImmunityBio stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. Following the transaction, the director directly owned 2,850,821 shares of the company’s stock, valued at $34,238,360.21. The trade was a 2.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 275,000 shares of company stock valued at $2,934,500. 69.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in ImmunityBio by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,030 shares of the company’s stock valued at $299,000 after buying an additional 3,930 shares in the last quarter. Cutler Investment Counsel LLC purchased a new position in shares of ImmunityBio during the first quarter worth about $767,000. Dimensional Fund Advisors LP grew its holdings in shares of ImmunityBio by 345.3% during the first quarter. Dimensional Fund Advisors LP now owns 110,009 shares of the company’s stock worth $844,000 after purchasing an additional 85,305 shares in the last quarter. KBC Group NV purchased a new position in shares of ImmunityBio during the first quarter worth about $79,000. Finally, SEB Asset Management AB purchased a new position in shares of ImmunityBio during the first quarter worth about $18,770,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

Trending Headlines about ImmunityBio

Here are the key news stories impacting ImmunityBio this week:

ImmunityBio Price Performance

NASDAQ IBRX opened at $8.51 on Monday. The business’s fifty day moving average is $8.00 and its 200-day moving average is $5.18. ImmunityBio has a one year low of $1.95 and a one year high of $12.43. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of -10.01 and a beta of 0.02.

ImmunityBio (NASDAQ:IBRXGet Free Report) last announced its quarterly earnings data 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 company had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.07 million. Research analysts expect that ImmunityBio will post -0.31 EPS for the current fiscal year.

About ImmunityBio

(Get Free Report)

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.

Read More

Analyst Recommendations for ImmunityBio (NASDAQ:IBRX)

Receive News & Ratings for ImmunityBio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ImmunityBio and related companies with MarketBeat.com's FREE daily email newsletter.