ImmunityBio, Inc. (NASDAQ:IBRX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• ImmunityBio has a “Moderate Buy” consensus rating from seven analysts: five buys, one strong buy and one sell. The average 12-month price target is $14.20.
• IBRX opened at $9.75, with a market capitalization of approximately $10.33 billion, after reporting a quarterly loss of $0.22 per share that missed analyst expectations, despite revenue exceeding forecasts.
• Company directors recently sold shares under pre-arranged trading plans, while insiders continue to own a significant 66.10% stake in ImmunityBio.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.20.

Several analysts recently issued reports on IBRX shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. Jefferies Financial Group raised shares of ImmunityBio to a "strong-buy" rating in a research report on Friday, September 25th.

ImmunityBio Stock Up 0.6%

IBRX stock opened at $9.75 on Thursday. The stock's 50 day moving average is $8.20 and its two-hundred day moving average is $7.87. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43. The company has a market capitalization of $10.33 billion, a PE ratio of -10.05 and a beta of 0.02.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $51.24 million during the quarter, compared to the consensus estimate of $49.70 million. As a group, sell-side analysts anticipate that ImmunityBio will post -0.44 EPS for the current year.

Insider Transactions at ImmunityBio

In other ImmunityBio news, Director Barry J. Simon sold 25,000 shares of the company's 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 sale, the director owned 2,777,788 shares in the company, valued at $29,861,221. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $10.50, for a total value of $851,088.00. Following the transaction, the director directly owned 100,309 shares in the company, valued at approximately $1,053,244.50. This represents a 44.69% 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. 66.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently made changes to their positions in the company. Markowski Investments bought a new position in shares of ImmunityBio in the 2nd quarter worth about $29,000. Hollencrest Capital Management bought a new position in ImmunityBio in the second quarter worth about $44,000. Western Wealth Management LLC acquired a new position in ImmunityBio in the first quarter valued at approximately $44,000. Geneos Wealth Management Inc. grew its holdings in shares of ImmunityBio by 579.3% during the first quarter. Geneos Wealth Management Inc. now owns 5,754 shares of the company's stock valued at $44,000 after purchasing an additional 4,907 shares during the last quarter. Finally, Archer Investment Corp raised its position in shares of ImmunityBio by 67.1% during the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company's stock worth $45,000 after purchasing an additional 2,358 shares during the period. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body's immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.

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