ImmunityBio (NASDAQ:IBRX) Stock Price Down 10.2% - What's Next?

Key Points

• Shares fell 10.2% intraday to about $8.98 on heavy trading (≈32.8M shares, ~27% below the 44.8M average); the stock has a $9.23B market cap and sits well above its 50‑day ($5.59) and 200‑day ($3.49) moving averages.
• Analyst sentiment is largely positive—six Buys vs. one Sell—with an average price target of $13.60 and several recent target upgrades (e.g., Piper Sandler to $12, BTIG to $9).
• Insiders have been net sellers (501,967 shares worth ~$4.47M sold in the last 90 days, with insiders owning ~69.5%), while the company reported a slight EPS beat for the quarter (‑$0.06 vs. ‑$0.08) and revenue of $38.3M but still faces an expected full‑year EPS of about ‑0.92.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) shares were down 10.2% during mid-day trading on Wednesday . The stock traded as low as $8.93 and last traded at $8.98. Approximately 32,788,773 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 44,766,883 shares. The stock had previously closed at $10.00.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler restated an "overweight" rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research note on Wednesday. BTIG Research raised their price target on shares of ImmunityBio from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Jefferies Financial Group upped their price objective on ImmunityBio from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, December 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of ImmunityBio in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of ImmunityBio in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.60.

ImmunityBio Stock Performance

The stock has a market cap of $9.23 billion, a PE ratio of -23.63 and a beta of -0.03. The company's 50-day moving average price is $5.59 and its 200 day moving average price is $3.49.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $38.29 million during the quarter. On average, sell-side analysts anticipate that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the company's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Simon sold 75,000 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 2,850,821 shares of the company's stock, valued at approximately $34,238,360.21. This trade represents a 2.56% decrease in their ownership of the stock. 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 over the last 90 days. 69.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ lifted its holdings in ImmunityBio by 347.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,324,871 shares of the company's stock worth $3,246,000 after purchasing an additional 1,028,921 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of ImmunityBio during the second quarter valued at approximately $20,497,000. AlphaCore Capital LLC purchased a new position in shares of ImmunityBio in the second quarter worth $7,854,000. Geode Capital Management LLC lifted its holdings in shares of ImmunityBio by 34.7% in the second quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company's stock worth $15,254,000 after buying an additional 1,487,849 shares in the last quarter. Finally, AXQ Capital LP boosted its position in shares of ImmunityBio by 263.4% during the third quarter. AXQ Capital LP now owns 71,300 shares of the company's stock worth $175,000 after acquiring an additional 51,678 shares during 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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