ImmunityBio (NASDAQ:IBRX) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

ImmunityBio (NASDAQ:IBRX) announced its quarterly earnings data on Monday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02), FiscalAI reports. The firm had revenue of $48.84 million during the quarter, compared to analyst estimates of $59.23 million.

ImmunityBio Stock Performance

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

Analyst Upgrades and Downgrades

IBRX has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of ImmunityBio in a report on Wednesday, October 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, October 6th. Jefferies Financial Group upped their price target on shares of ImmunityBio from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of ImmunityBio in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Insider Activity

In other news, Director Barry Simon sold 25,000 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the transaction, the director owned 2,777,788 shares in the company, valued at $29,861,221. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Cohen sold 81,056 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $10.50, for a total value of $851,088.00. Following the completion of the transaction, the director owned 100,309 shares in the company, valued at $1,053,244.50. This represents a 44.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 66.10% of the company’s stock.

About ImmunityBio

ImmunityBio is a biotechnology company that develops immunotherapies for cancer and infectious diseases. Its research combines approaches including immune-modulating biologics, cell therapies and vaccine-based treatments, with a focus on activating the body’s natural and adaptive immune responses.

The company’s lead product, Anktiva (nogapendekin alfa inbakicept-pmln), received U.S. Food and Drug Administration approval in 2024 for use with Bacillus Calmette-Guérin (BCG) in adults with BCG-unresponsive non-muscle-invasive bladder cancer with carcinoma in situ, with or without papillary tumors.