ImmunityBio (NASDAQ:IBRX) Trading Down 2%

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price traded down 2% during trading on Friday . The company traded as low as $1.55 and last traded at $1.58. 384,202 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,705,563 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered shares of ImmunityBio from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $4.00 in a research note on Friday, May 12th.

ImmunityBio Price Performance

The business’s 50 day moving average is $2.27 and its 200 day moving average is $2.46.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.03 million. Analysts forecast that ImmunityBio, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael D. Blaszyk bought 71,915 shares of the business’s stock in a transaction on Monday, June 5th. The stock was bought at an average price of $2.75 per share, for a total transaction of $197,766.25. Following the transaction, the director now directly owns 71,915 shares in the company, valued at $197,766.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 77.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Western Wealth Management LLC bought a new position in shares of ImmunityBio during the 2nd quarter valued at $58,000. California State Teachers Retirement System raised its holdings in shares of ImmunityBio by 11.6% during the 2nd quarter. California State Teachers Retirement System now owns 151,684 shares of the company’s stock valued at $422,000 after purchasing an additional 15,751 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of ImmunityBio by 18.9% during the 2nd quarter. Alliancebernstein L.P. now owns 299,010 shares of the company’s stock valued at $831,000 after purchasing an additional 47,452 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of ImmunityBio by 93.2% during the 2nd quarter. Wells Fargo & Company MN now owns 63,953 shares of the company’s stock valued at $178,000 after purchasing an additional 30,850 shares in the last quarter. Finally, Fishman Jay A Ltd. MI raised its holdings in shares of ImmunityBio by 44.6% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 162,000 shares of the company’s stock valued at $450,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 8.60% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that complement, harness, and amplify the immune system to defeat cancers and infectious diseases in the United States and Europe. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine technologies, toll-Like receptor activating adjuvants, natural killer cells, and damage-associated molecular patterns inducers.