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

Key Points

• Analysts give ImmunityBio a consensus "Moderate Buy" rating (1 sell, 5 buy, 1 strong buy) with an average 12‑month target of $14.40 and individual targets ranging from about $12 to $23.
• The stock recently traded around $8.47 (one‑year range $1.83–$12.43) and the company slightly beat quarterly EPS estimates—($0.06) vs. ($0.08)—on $38.29 million of revenue, while analysts forecast a full‑year EPS of about -0.92.
• Insiders sold a total of 501,967 shares (~$4.47M) in the last quarter, even though insiders still own a large stake at roughly 69.48% of the company’s shares.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.40.

A number of equities research analysts have weighed in on IBRX shares. Piper Sandler reaffirmed an "overweight" rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. Weiss Ratings reissued a "sell (e+)" rating on shares of ImmunityBio in a report on Monday, December 29th. D. Boral Capital restated a "buy" rating and issued a $23.00 price target on shares of ImmunityBio in a research note on Tuesday, March 17th. HC Wainwright upped their price objective on ImmunityBio from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Finally, BTIG Research began coverage on ImmunityBio in a research report on Thursday, March 12th. They issued a "buy" rating and a $13.00 price objective for the company.

ImmunityBio Stock Performance

Shares of ImmunityBio stock opened at $8.47 on Friday. ImmunityBio has a one year low of $1.83 and a one year high of $12.43. The company has a market cap of $8.71 billion, a P/E ratio of -22.29 and a beta of -0.03. The firm has a fifty day moving average of $7.24 and a two-hundred day moving average of $4.04.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $38.29 million for the quarter. As a group, equities analysts predict that ImmunityBio will post -0.92 earnings per share for the current year.

Insider Transactions at ImmunityBio

In other news, Director Christobel Selecky sold 50,000 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry J. Simon sold 165,000 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the sale, the director directly owned 2,925,821 shares in the company, valued at approximately $29,989,665.25. This represents a 5.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 501,967 shares of company stock valued at $4,466,412 in the last quarter. Insiders own 69.48% of the company's stock.

Institutional Investors Weigh In On ImmunityBio

Institutional investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new position in ImmunityBio in the 2nd quarter valued at approximately $20,497,000. Heights Capital Management Inc. purchased a new stake in ImmunityBio during the third quarter worth $16,152,000. Vanguard Group Inc. boosted its position in ImmunityBio by 26.8% during the third quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company's stock worth $68,032,000 after purchasing an additional 5,837,898 shares in the last quarter. State Street Corp grew its holdings in ImmunityBio by 45.4% in the fourth quarter. State Street Corp now owns 16,455,703 shares of the company's stock valued at $32,582,000 after purchasing an additional 5,139,890 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company's stock valued at $12,182,000 after buying an additional 5,012,001 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company's stock.

ImmunityBio Company Profile

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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