ImmunityBio, Inc. (NASDAQ:IBRX – Get Rating)’s stock price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $2.79, but opened at $2.99. ImmunityBio shares last traded at $2.85, with a volume of 1,099,769 shares traded.
Specifically, Director John Owen Brennan purchased 25,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average price of $2.83 per share, with a total value of $70,750.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at approximately $70,750. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ImmunityBio news, Director John Owen Brennan purchased 25,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $2.83 per share, for a total transaction of $70,750.00. Following the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $70,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Blaszyk acquired 71,915 shares of the stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $2.75 per share, with a total value of $197,766.25. Following the purchase, the director now directly owns 71,915 shares in the company, valued at $197,766.25. The disclosure for this purchase can be found here. Corporate insiders own 77.63% of the company’s stock.
Analysts Set New Price Targets
Separately, Piper Sandler downgraded shares of ImmunityBio from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $4.00 in a research report on Friday, May 12th.
ImmunityBio Price Performance
Institutional Trading of ImmunityBio
Several hedge funds have recently added to or reduced their stakes in IBRX. Armistice Capital LLC bought a new stake in shares of ImmunityBio in the first quarter valued at approximately $10,549,000. State Street Corp lifted its position in shares of ImmunityBio by 255.9% during the third quarter. State Street Corp now owns 6,649,331 shares of the company’s stock worth $33,047,000 after acquiring an additional 4,780,807 shares in the last quarter. Callan Capital LLC bought a new position in shares of ImmunityBio in the fourth quarter worth $15,109,000. Pictet Asset Management SA grew its position in shares of ImmunityBio by 186.2% in the first quarter. Pictet Asset Management SA now owns 2,421,900 shares of the company’s stock valued at $4,408,000 after purchasing an additional 1,575,780 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of ImmunityBio by 642.6% during the 4th quarter. Sheets Smith Wealth Management now owns 1,544,048 shares of the company’s stock valued at $7,828,000 after purchasing an additional 1,336,122 shares during the period. Institutional investors own 9.86% of the company’s stock.
ImmunityBio Company Profile
ImmunityBio, Inc is a clinical stage immunotherapy company. It develops next generation therapies that drive immunogenic mechanisms for defeating cancers and infectious diseases. The company’s immunotherapy platform activates both the innate and adaptive immune systems to create long term immunological memory.
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