ImmunityBio Inc. (NASDAQ: IBRX) stock jumped 1.99% on Friday to $4.61 against a previous-day closing price of $4.52. With 1.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.6 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.6400 whereas the lowest price it dropped to was $4.4750. The 52-week range on IBRX shows that it touched its highest point at $7.85 and its lowest point at $2.60 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IBRX was down-trending over the past week, with a drop of -1.91%, but this was down by -19.41% over a month. Three-month performance dropped to -6.30% while six-month performance fell -0.22%. The stock lost -22.78% in the past year, while it has lost -9.07% so far this year. A look at the trailing 12-month EPS for IBRX yields -1.00 with Next year EPS estimates of -1.03. For the next quarter, that number is -0.22. This implies an EPS growth rate of -51.40% for this year and -3.00% for next year. EPS is expected to decline by -1.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.60%.
Float and Shares Shorts:
At present, 400.06 million IBRX shares are outstanding with a float of 83.44 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.49 million, which was 5.87% higher than short shares on Sep 14, 2022. In addition to Dr. Patrick Soon-Shiong FACS, FRCS (C), M.Sc. as the firm’s Exec. Chairman, Global Chief Scientific & Medical Officer, Mr. Richard Gerald Adcock serves as its Pres, CEO & Director.
Through their ownership of 8.70% of IBRX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.04% of IBRX, in contrast to 3.60% held by mutual funds. Shares owned by individuals account for 13.51%. As the largest shareholder in IBRX with 1.92% of the stake, The Vanguard Group, Inc. holds 7,851,046 shares worth 7,851,046. A second-largest stockholder of IBRX, SSgA Funds Management, Inc., holds 6,649,331 shares, controlling over 1.62% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in IBRX, holding 5,376,811 shares or 1.31% stake. With a 1.13% stake in IBRX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 4,626,567 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 0.59% of IBRX stock, is the second-largest Mutual Fund holder. It holds 2,397,295 shares valued at 12.15 million. Vanguard Small Cap Index Fund holds 0.50% of the stake in IBRX, owning 2,062,678 shares worth 10.46 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IBRX since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IBRX analysts setting a high price target of $10.00 and a low target of $8.00, the average target price over the next 12 months is $9.00. Based on these targets, IBRX could surge 116.92% to reach the target high and rise by 73.54% to reach the target low. Reaching the average price target will result in a growth of 95.23% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IBRX will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$1.00 being high and -$1.00 being low. For IBRX, this leads to a yearly average estimate of -$1.00. Based on analyst estimates, the high estimate for the next quarter is -$0.22 and the low estimate is -$0.22. The average estimate for the next quarter is thus -$0.22.
Summary of Insider Activity:
Insiders traded IBRX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 9,986,920 shares were bought while 0 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 10,070,253 while 29,415 shares were sold.