The stock of ImmunityBio Inc. (NASDAQ:IBRX) increased by $0.06 on Tuesday to $1.91, up 3.51 percent. The last five days have seen an average of 2,021,903 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$3.1350. The average number of shares traded over the last 20 days was 2,594,396, while the average volume over the last 50 days totaled 2,554,586.
IBRX stock dropped -37.01% since last month. On 08/11/23, the company’s shares reached a one-month low of $1.6500. The stock touched a high of $7.80 on 05/09/23, after rallying from a low of $1.21 in 52 weeks. The price of IBRX stock has declined by -62.23% or -$3.1350 this year, reaching a new high 4 times. Still, the stock price is down -75.45% from the 52-week high.
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Insider Transactions
IBRX stock investors should be aware that ImmunityBio Inc. (IBRX) stock had its last reported insider trading activity 71 days ago on Jun 05. On Jun 05, Director BLASZYK MICHAEL D acquired 71,915 shares at $2.75 each. This transaction resulted in the insider spending $198,023. On Jun 02, Brennan John Owen added 25,000 shares at a price of US$2.83. After the transaction, the insider now owns 25,000 shares. Director Clark Wesley had earlier bought 7,000 shares on Jun 01 for $2.91 a share. The transaction was completed for $20,370.
Financial Health
For the three months ended June 29, ImmunityBio Inc.’s quick ratio was 0.10, while its current ratio was 0.10, indicating its inability to pay off its debt. Based on annual data, it had gross profit of $351.54 million and revenue of $0.24 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IBRX’s return on assets (ROA) during the last 12 months has been -140.30%. There was a -154.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 92.60%.
Earnings Surprise
According to ImmunityBio Inc.’s quarterly financial report for the quarter that ended June 29, it had $2.45 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $40000.0, while revenues fell by 0.0% to $0.36 million. It was predicted that ImmunityBio Inc.’s quarterly earnings would be -$0.32, but it ended up being -$0.23, beating the consensus by -39.10%. EBITDA was -$68.17 million for the quarter. At the end of ImmunityBio Inc.’s most recent quarter ended June 29, its liabilities totaled 936.41 million, while its total debt was $819.26 million. Equity owned by shareholders amounts to $456.25 million.
Technical Picture
Here’s a quick look at ImmunityBio Inc.’s (IBRX) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 41.30%, suggesting the stock is Neutral, with a 107.04% historical volatility rate.
The stochastic %K and %D were 24.40% and 16.30% respectively, while the average true range (ATR) was 0.1925. Based on the 14-day stochastic reading of 33.93%, the RSI (14) reading is 39.31%. On the 9-day MACD Oscillator, the stock is at -0.0011, and the 14-day reading is at -0.1037.
Analyst Ratings
ImmunityBio Inc. (NASDAQ: IBRX) was downgraded by Piper Sandler to a a Neutral rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned ImmunityBio Inc. (IBRX) an Overweight rating. IBRX is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is IBRX’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.00 and $5.00, with a median target price of $4.50. In analyzing these forecasts, the average price target given by analysts for ImmunityBio Inc. (IBRX) is $4.50.
