ImmunityBio (NASDAQ:IBRX) Shares Down 4.2% - Should You Sell?

Key Points

• Shares fell 4.2% to $10.00 on Tuesday with about 25.97 million shares traded, roughly 42% below the average session volume.
• Analysts are largely bullish — six firms rate IBRX a "Buy" versus one "Sell," giving a consensus "Moderate Buy" and an average price target of $12.60.
• Insiders have been net sellers recently, offloading about 501,967 shares (~$4.47M) in the last three months, though corporate insiders still own roughly 69.48% of the company.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) shares traded down 4.2% on Tuesday . The company traded as low as $9.80 and last traded at $10.00. 25,968,397 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 45,002,406 shares. The stock had previously closed at $10.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ImmunityBio in a report on Monday, February 23rd. BTIG Research lifted their price target on ImmunityBio from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. HC Wainwright upped their price objective on shares of ImmunityBio from $10.00 to $15.00 and gave the company a "buy" rating in a report on Monday, February 23rd. D. Boral Capital restated a "buy" rating and set a $23.00 price objective on shares of ImmunityBio in a research report on Monday, February 23rd. Finally, Jefferies Financial Group lifted their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.60.

ImmunityBio Stock Down 4.2%

The business has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $3.44. The company has a market cap of $10.28 billion, a PE ratio of -26.32 and a beta of 0.16.

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

Insider Activity

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Simon sold 75,000 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. Following the completion of the sale, the director owned 2,850,821 shares in the company, valued at approximately $34,238,360.21. The trade was a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 501,967 shares of company stock worth $4,466,412 in the last three months. Corporate insiders own 69.48% of the company's stock.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently bought and sold shares of the stock. Slow Capital Inc. acquired a new position in shares of ImmunityBio during the third quarter worth about $25,000. Truist Financial Corp acquired a new position in ImmunityBio during the 3rd quarter worth approximately $27,000. Swiss Life Asset Management Ltd purchased a new stake in shares of ImmunityBio in the 3rd quarter valued at approximately $27,000. WealthPlan Investment Management LLC acquired a new stake in shares of ImmunityBio in the 4th quarter valued at $27,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of ImmunityBio during the 2nd quarter worth $27,000. Institutional investors and hedge funds 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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