ImmunityBio (NASDAQ:IBRX) Stock Price Down 6.2% – Time to Sell?
by Scott Moore · The Cerbat GemImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report)’s share price fell 6.2% on Friday . The stock traded as low as $7.71 and last traded at $7.6850. 4,279,154 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 33,692,359 shares. The stock had previously closed at $8.19.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on IBRX. Piper Sandler restated an “overweight” rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a report on Tuesday, April 14th. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. BTIG Research initiated coverage on ImmunityBio in a report on Thursday, March 12th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of ImmunityBio in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.40.
View Our Latest Report on IBRX
ImmunityBio Stock Down 6.6%
The business has a 50-day moving average price of $8.12 and a 200-day moving average price of $4.86. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of -20.14 and a beta of 0.13.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $38.29 million for the quarter. As a group, sell-side analysts predict that ImmunityBio, Inc. will post -0.31 EPS for the current year.
Insider Buying and Selling at ImmunityBio
In related news, Director Christobel Selecky sold 25,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barry J. Simon sold 165,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.25, for a total value of $1,691,250.00. Following the transaction, the director directly owned 2,925,821 shares in the company, valued at $29,989,665.25. The trade was a 5.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 275,000 shares of company stock worth $2,934,500 over the last three months. 69.48% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Slow Capital Inc. acquired a new position in ImmunityBio during the third quarter valued at $25,000. Aaron Wealth Advisors LLC acquired a new position in ImmunityBio during the first quarter valued at $78,000. Mayflower Financial Advisors LLC acquired a new position in ImmunityBio during the first quarter valued at $78,000. Diversify Advisory Services LLC acquired a new position in ImmunityBio during the second quarter valued at $27,000. Finally, Truist Financial Corp acquired a new position in ImmunityBio during the third quarter valued at $27,000. 8.58% of the stock is owned by institutional investors and hedge funds.
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.