Brokerages Set ImmunityBio, Inc. (NASDAQ:IBRX) PT at $11.80

Shares of ImmunityBio, Inc. (NASDAQ:IBRX) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.80.

IBRX has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler increased their target price on ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. BTIG Research raised their target price on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. HC Wainwright upped their price target on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th.

Insider Buying and Selling

In related news, Director Barry J. Simon sold 151,967 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were 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 $22,259,548.80. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christobel Selecky sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,967 shares of company stock worth $1,531,912 over the last quarter. 69.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On ImmunityBio

Several hedge funds have recently added to or reduced their stakes in IBRX. Sanctuary Advisors LLC raised its holdings in ImmunityBio by 6.9% during the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock worth $59,000 after purchasing an additional 1,918 shares during the last quarter. Mutual Advisors LLC grew its position in shares of ImmunityBio by 9.0% during the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after buying an additional 2,500 shares during the period. Courier Capital LLC raised its stake in shares of ImmunityBio by 12.5% during the second quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock worth $119,000 after buying an additional 5,000 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of ImmunityBio by 6.4% during the third quarter. Bell & Brown Wealth Advisors LLC now owns 82,750 shares of the company’s stock worth $204,000 after buying an additional 5,000 shares during the last quarter. Finally, Creative Planning lifted its holdings in ImmunityBio by 9.2% in the second quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after buying an additional 5,231 shares during the period. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Stock Down 1.9%

Shares of IBRX stock opened at $6.13 on Friday. The company has a market capitalization of $6.04 billion, a P/E ratio of -14.95 and a beta of 0.14. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $8.28. The firm has a 50-day moving average price of $3.22 and a 200 day moving average price of $2.72.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.06 million for the quarter, compared to analyst estimates of $31.88 million. As a group, research analysts expect that ImmunityBio will post -0.92 earnings per share for the current year.

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.