ImmunityBio (NASDAQ:IBRX) Stock Price Up 3.3% - Should You Buy?

Key Points

• Shares up 3.3% — ImmunityBio traded up to $6.33 intraday on Tuesday with ~21M shares changing hands (≈58% below average), leaving the stock well above its 50‑day ($3.22) and 200‑day ($2.72) moving averages and a market cap of about $6.23 billion.
• Analyst sentiment has turned positive: five analysts rate IBRX a Buy vs one Sell, several firms raised price targets this month, and the consensus target is roughly $11.80.
• Significant insider activity: insiders sold a total of 226,967 shares (~$1.53M) in the last 90 days, though corporate insiders still own about 69.48% of the company while institutional ownership is low (~8.6%).

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s stock price traded up 3.3% during mid-day trading on Tuesday . The stock traded as high as $6.54 and last traded at $6.33. 20,944,899 shares were traded during trading, a decline of 58% from the average session volume of 49,501,063 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBRX shares. Piper Sandler upped their price target on ImmunityBio from $5.00 to $7.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. HC Wainwright boosted their target price on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, January 26th. BTIG Research raised their target price on shares of ImmunityBio from $6.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. D. Boral Capital reiterated a "buy" rating and issued a $24.00 price target on shares of ImmunityBio in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of ImmunityBio in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, ImmunityBio presently has an average rating of "Moderate Buy" and an average target price of $11.80.

ImmunityBio Stock Up 3.3%

The stock's 50 day moving average is $3.22 and its 200-day moving average is $2.72. The company has a market cap of $6.23 billion, a PE ratio of -15.44 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The business had revenue of $32.06 million for the quarter, compared to analysts' expectations of $31.88 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity at ImmunityBio

In related news, Director Christobel Selecky sold 25,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.51, for a total transaction of $187,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barry J. Simon sold 151,967 shares of the firm's stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the completion of the sale, the director owned 3,091,604 shares of the company's stock, valued at approximately $22,259,548.80. This represents a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,967 shares of company stock valued at $1,531,912 over the last ninety days. Corporate insiders own 69.48% of the company's stock.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Slow Capital Inc. purchased a new position in shares of ImmunityBio during the 3rd quarter worth about $25,000. Truist Financial Corp purchased a new stake in ImmunityBio in the 3rd quarter worth about $27,000. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio in the third quarter worth about $27,000. Diversify Advisory Services LLC bought a new stake in ImmunityBio in the second quarter worth about $27,000. Finally, Summit X LLC purchased a new position in shares of ImmunityBio during the second quarter valued at approximately $28,000. Hedge funds and other institutional investors own 8.58% 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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