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

Key Points

• ImmunityBio has a consensus analyst rating of “Moderate Buy”, based on seven covering firms: six rate it a buy and one rates it a sell. The average 1-year price target is $14.20.
• The stock opened at $7.10 and has traded between a 52-week low of $1.95 and high of $12.43. Its market cap is about $7.44 billion.
• The company recently reported Q1 earnings of -$0.62 per share, missing expectations, though revenue of $44.21 million slightly beat estimates. Insider selling has also been notable, including recent sales by directors Cheryl Cohen and Barry J. Simon.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.20.

IBRX has been the topic of several recent analyst reports. D. Boral Capital reiterated a "buy" rating and issued a $23.00 price target on shares of ImmunityBio in a report on Tuesday, May 5th. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of ImmunityBio in a research note on Tuesday, June 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. Finally, BTIG Research reiterated a "buy" rating and set a $12.00 target price on shares of ImmunityBio in a report on Thursday, May 21st.

ImmunityBio Price Performance

IBRX opened at $7.10 on Friday. ImmunityBio has a one year low of $1.95 and a one year high of $12.43. The business has a 50 day simple moving average of $7.77 and a two-hundred day simple moving average of $7.35. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of -8.35 and a beta of 0.01.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The firm had revenue of $44.21 million during the quarter, compared to analysts' expectations of $43.07 million. As a group, sell-side analysts expect that ImmunityBio will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cheryl Cohen sold 131,210 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the sale, the director owned 125,386 shares in the company, valued at approximately $1,191,167. The trade was a 51.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 company's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.88, for a total transaction of $197,000.00. Following the completion of the sale, the director directly owned 2,802,788 shares in the company, valued at $22,085,969.44. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 435,443 shares of company stock valued at $3,918,819 over the last ninety days. Company insiders own 66.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the third quarter worth about $27,000. WealthPlan Investment Management LLC bought a new position in shares of ImmunityBio during the fourth quarter valued at approximately $27,000. Diversify Advisory Services LLC purchased a new position in shares of ImmunityBio during the second quarter valued at approximately $27,000. Kovack Advisors Inc. purchased a new position in shares of ImmunityBio during the fourth quarter valued at approximately $27,000. Finally, Cherry Creek Investment Advisors Inc. bought a new stake in shares of ImmunityBio in the 4th quarter worth approximately $28,000. 8.58% of the stock is owned by hedge funds and other institutional investors.

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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