HC Wainwright Increases Earnings Estimates for ImmunityBio

Key Points

• HC Wainwright raised its FY2027 EPS estimate for ImmunityBio to $0.07 from $0.06 and maintained a Buy rating with a $15 price target.
• Analyst sentiment is generally positive, with six Buy ratings and one Sell rating, resulting in a Moderate Buy consensus and an average price target of $14.20.
• ImmunityBio reported a quarterly loss of $0.22 per share, missing expectations by $0.14, though revenue of $51.24 million exceeded estimates. Shares opened at $6.95, while insiders have sold about $3.9 million of stock over the past 90 days.

ImmunityBio, Inc. (NASDAQ:IBRX - Free Report) - Equities researchers at HC Wainwright increased their FY2027 earnings per share estimates for shares of ImmunityBio in a report released on Tuesday, August 4th. HC Wainwright analyst A. Maldonado now expects that the company will earn $0.07 per share for the year, up from their previous forecast of $0.06. HC Wainwright currently has a "Buy" rating and a $15.00 target price on the stock. The consensus estimate for ImmunityBio's current full-year earnings is ($0.31) per share.

Several other equities analysts also recently issued reports on IBRX. BTIG Research reaffirmed a "buy" rating and set a $12.00 price objective on shares of ImmunityBio in a report on Thursday, May 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of ImmunityBio in a research note on Friday, July 10th. Finally, D. Boral Capital restated a "buy" rating and set a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.20.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $6.95 on Wednesday. The firm has a fifty day moving average of $7.68 and a 200 day moving average of $7.62. The firm has a market cap of $7.28 billion, a PE ratio of -8.18 and a beta of 0.03. ImmunityBio has a one year low of $1.95 and a one year high of $12.43.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.14). The firm had revenue of $51.24 million during the quarter, compared to analysts' expectations of $49.80 million.

Institutional Investors Weigh In On ImmunityBio

Large investors have recently modified their holdings of the business. WealthPlan Investment Management LLC purchased a new position in shares of ImmunityBio in the fourth quarter worth about $27,000. Diversify Advisory Services LLC purchased a new stake in ImmunityBio during the 2nd quarter valued at about $27,000. Kovack Advisors Inc. acquired a new stake in ImmunityBio in the 4th quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in ImmunityBio in the 4th quarter valued at about $28,000. Finally, Empowered Funds LLC purchased a new position in ImmunityBio in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 8.58% of the company's stock.

Insider Transactions at ImmunityBio

In related news, Director Christobel Selecky sold 159,478 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.02, for a total transaction of $1,438,491.56. Following the completion of the sale, the director directly owned 35,064 shares in the company, valued at approximately $316,277.28. The trade was a 81.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 on Wednesday, June 24th. The shares were sold at an average price of $7.88, for a total value of $197,000.00. Following the completion of the transaction, the director directly owned 2,802,788 shares of the company's stock, valued at approximately $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. 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 have sold 435,443 shares of company stock valued at $3,918,819 over the last ninety days. Insiders own 66.10% of the company's stock.

About ImmunityBio

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.

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