ImmunityBio (NASDAQ:IBRX) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded ImmunityBio from “hold” to “sell,” while the broader analyst consensus remains “Moderate Buy,” with six Buy ratings and a $16 consensus price target.
• ImmunityBio shares opened at $6.02 and were down 0.8%; the stock’s 50-day moving average was $8.59.
• Two directors reported stock sales in October. Both transactions were made under pre-arranged Rule 10b5-1 plans; insiders collectively own 66.1% of the company.

ImmunityBio (NASDAQ:IBRX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on IBRX. Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a research report on Tuesday, October 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $16.00 target price on shares of ImmunityBio in a research report on Wednesday, October 14th. Jefferies Financial Group boosted their target price on shares of ImmunityBio from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of ImmunityBio in a research note on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.00.

ImmunityBio Stock Down 0.8%

Shares of NASDAQ IBRX opened at $6.02 on Friday. The firm's 50-day moving average price is $8.59 and its 200-day moving average price is $7.96. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43. The company has a market cap of $6.40 billion, a PE ratio of -5.57 and a beta of 0.17.

Insider Transactions at ImmunityBio

In other news, 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 transaction of $851,088.00. Following the completion of the sale, the director owned 100,309 shares of the company's stock, valued at $1,053,244.50. This represents a 44.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 that occurred 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 owned 2,777,788 shares in the company, valued at $29,861,221. This trade represents 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

Large investors have recently added to or reduced their stakes in the business. Compass Wealth Management LLC bought a new position in ImmunityBio in the third quarter worth approximately $29,000. Markowski Investments purchased a new position in shares of ImmunityBio during the 2nd quarter worth $29,000. GAMMA Investing LLC boosted its stake in shares of ImmunityBio by 262.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,807 shares of the company's stock worth $36,000 after acquiring an additional 2,756 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of ImmunityBio during the 2nd quarter worth $44,000. Finally, Western Wealth Management LLC bought a new stake in shares of ImmunityBio during the 1st quarter valued at $44,000. 8.58% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.