ImmunityBio (NASDAQ:IBRX) Director Barry Simon Sells 25,000 Shares of Company Stock

Key Points

• Director Barry Simon sold 25,000 ImmunityBio shares at an average price of $10.75, generating $268,750. The Rule 10b5-1 transaction reduced his holdings by 0.89%, leaving him with 2,777,788 shares.
• ImmunityBio shares fell $0.69 to $9.69 during Tuesday trading, while the company recently reported a quarterly loss of $0.22 per share—worse than the $0.08 consensus estimate—despite revenue of $51.24 million.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and a $14.20 average price target, although institutional investors own only 8.58% of the stock.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) Director Barry Simon sold 25,000 shares of the firm's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $10.75, for a total transaction of $268,750.00. Following the transaction, the director owned 2,777,788 shares of the company's stock, valued at approximately $29,861,221. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Stock Performance

Shares of IBRX stock traded down $0.69 during trading hours on Tuesday, hitting $9.69. The company had a trading volume of 16,841,849 shares, compared to its average volume of 20,774,146. ImmunityBio, Inc. has a 12 month low of $1.95 and a 12 month high of $12.43. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of -9.99 and a beta of 0.02. The firm's fifty day moving average is $8.09 and its 200 day moving average is $7.86.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $51.24 million during the quarter, compared to analyst estimates of $49.70 million. On average, sell-side analysts expect that ImmunityBio, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBRX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ImmunityBio in a report on Friday, July 10th. Jefferies Financial Group raised shares of ImmunityBio to a "strong-buy" rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.20.

Hedge Funds Weigh In On ImmunityBio

Several institutional investors have recently bought and sold shares of IBRX. BlackRock Inc. boosted its stake in ImmunityBio by 29.4% in the second quarter. BlackRock Inc. now owns 34,083,262 shares of the company's stock worth $298,399,000 after purchasing an additional 7,736,819 shares in the last quarter. State Street Corp increased its stake in shares of ImmunityBio by 20.8% in the second quarter. State Street Corp now owns 21,398,438 shares of the company's stock valued at $187,343,000 after buying an additional 3,690,335 shares in the last quarter. Bank of America Corp DE bought a new position in shares of ImmunityBio in the second quarter valued at about $19,125,000. SEB Asset Management AB bought a new position in shares of ImmunityBio in the first quarter valued at about $18,770,000. Finally, Private Advisor Group LLC lifted its position in ImmunityBio by 923.5% during the 1st quarter. Private Advisor Group LLC now owns 1,648,556 shares of the company's stock worth $12,644,000 after buying an additional 1,487,482 shares in the last quarter. Institutional investors own 8.58% of the company's stock.

ImmunityBio Company Profile

ImmunityBio, Inc is a biotechnology company focused on developing and commercializing immunotherapies designed to activate and strengthen the body's immune system against cancer and infectious diseases. The company combines cytokine-based therapies, vaccines, cellular therapies and other immune-modulating technologies in an effort to create durable treatment responses.

Its lead product, ANKTIVA (nogapendekin alfa inbakicept-pmln), is an interleukin-15 receptor agonist immune stimulator.

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