ImmunityBio (NASDAQ:IBRX) Announces Earnings Results

Key Points

• ImmunityBio missed quarterly expectations: EPS was a loss of $0.09 versus the consensus loss of $0.07, while revenue of $48.84 million came in below the $59.23 million forecast.
• Analyst sentiment is mostly positive: Six analysts rate the stock Buy and one rates it Sell, giving it a Moderate Buy consensus and an average price target of $16.00.
• Two directors reported share sales under pre-arranged Rule 10b5-1 plans; company insiders still own 66.1% of the stock.

ImmunityBio (NASDAQ:IBRX - Get Free Report) posted its earnings results on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02), FiscalAI reports. The business had revenue of $48.84 million for the quarter, compared to analysts' expectations of $59.23 million.

ImmunityBio Price Performance

Shares of IBRX opened at $8.64 on Monday. The firm has a 50-day moving average price of $8.74 and a 200 day moving average price of $7.96. The firm has a market capitalization of $9.16 billion, a PE ratio of -8.91 and a beta of 0.17. ImmunityBio has a 52-week low of $1.95 and a 52-week high of $12.43.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group raised their price target 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a research report on Tuesday, October 6th. HC Wainwright reissued a "buy" rating and issued a $15.00 price objective on shares of ImmunityBio in a report on Thursday, October 15th. Finally, Piper Sandler reissued an "overweight" rating and issued a $16.00 price objective on shares of ImmunityBio in a report on Wednesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Insider Activity

In other news, Director Cheryl Cohen sold 81,056 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 100,309 shares of the company's stock, valued at approximately $1,053,244.50. This represents a 44.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 completion of the sale, the director directly owned 2,777,788 shares of the company's stock, valued at approximately $29,861,221. This represents a 0.89% decrease in their ownership of the stock. 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.

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.

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