Insider Selling: ImmunityBio (NASDAQ:IBRX) Director Sells $1,246,495.00 in Stock

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) Director Cheryl Cohen sold 131,210 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.50, for a total transaction of $1,246,495.00. Following the sale, the director directly owned 125,386 shares in the company, valued at approximately $1,191,167. This trade represents a 51.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ImmunityBio Price Performance

• Why 2 Small Biotechs May Hold the Key to New Cancer Treatments

Shares of IBRX stock opened at $8.91 on Tuesday. The company's fifty day simple moving average is $7.72 and its two-hundred day simple moving average is $6.81. ImmunityBio, Inc. has a 1 year low of $1.95 and a 1 year high of $12.43. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of -10.48 and a beta of 0.01.

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ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.54). The firm had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.07 million. Equities research analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

• Biotech Breakouts: 3 Stocks With Massive Upside Potential

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss Life Asset Management Ltd purchased a new stake in ImmunityBio in the third quarter worth about $27,000. WealthPlan Investment Management LLC purchased a new position in shares of ImmunityBio during the 4th quarter worth approximately $27,000. Diversify Advisory Services LLC bought a new position in shares of ImmunityBio in the 2nd quarter worth approximately $27,000. Kovack Advisors Inc. purchased a new position in shares of ImmunityBio in the 4th quarter valued at approximately $27,000. Finally, Cherry Creek Investment Advisors Inc. purchased a new position in shares of ImmunityBio in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 8.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BTIG Research reiterated a "buy" rating and set a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of ImmunityBio in a research note on Tuesday, June 2nd. D. Boral Capital reiterated a "buy" rating and set a $23.00 price target on shares of ImmunityBio in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a report on Tuesday, April 14th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $14.20.

• 5 Stocks with Unusually Large Short Interest

Check Out Our Latest Research Report on IBRX

ImmunityBio Company Profile

(Get Free Report)

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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