Does ImmunityBio Inc. (IBRX) offer a good opportunity for investors?

ImmunityBio Inc. (NASDAQ: IBRX) stock fell -7.03% on Thursday to $2.38 against a previous-day closing price of $2.56. With 3.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.0 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.5600 whereas the lowest price it dropped to was $2.3300. The 52-week range on IBRX shows that it touched its highest point at $7.80 and its lowest point at $1.21 during that stretch. It currently has a 1-year price target of $4.50. Beta for the stock currently stands at 1.41.

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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 -15.30%, but this was up by 5.31% over a month. Three-month performance dropped to -8.11% while six-month performance fell -55.84%. The stock lost -35.33% in the past year, while it has lost -53.06% so far this year. A look at the trailing 12-month EPS for IBRX yields -1.05 with Next year EPS estimates of -0.83. For the next quarter, that number is -0.23. This implies an EPS growth rate of -16.90% for this year and 15.30% 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 -13.40%.

Float and Shares Shorts:

At present, 428.38 million IBRX shares are outstanding with a float of 83.44 million shares on hand for trading. On May 14, 2023, short shares totaled 24.96 million, which was 5.73% higher than short shares on Apr 13, 2023. In addition to Dr. Patrick Soon-Shiong F.A.C.S., 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.

Institutional Ownership:

Through their ownership of 12.72% of IBRX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.81% of IBRX, in contrast to 4.52% held by mutual funds. Shares owned by individuals account for 14.99%. As the largest shareholder in IBRX with 1.85% of the stake, The Vanguard Group, Inc. holds 8,054,831 shares worth 8,054,831. A second-largest stockholder of IBRX, BlackRock Fund Advisors, holds 6,066,155 shares, controlling over 1.39% of the firm’s shares. Armistice Capital LLC is the third largest shareholder in IBRX, holding 5,795,927 shares or 1.33% stake. With a 0.55% stake in IBRX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,397,295 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 0.48% of IBRX stock, is the second-largest Mutual Fund holder. It holds 2,101,013 shares valued at 5.88 million. iShares Russell 2000 ETF holds 0.41% of the stake in IBRX, owning 1,783,577 shares worth 4.99 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, IBRX reported revenue of $35.00k and operating income of -$79.62M. The EBITDA in the recently reported quarter was -$78.70M and diluted EPS was -$0.24.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IBRX since 0 analysts follow the stock currently. 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 $5.00 and a low target of $4.00, the average target price over the next 12 months is $4.50. Based on these targets, IBRX could surge 110.08% to reach the target high and rise by 68.07% to reach the target low. Reaching the average price target will result in a growth of 89.08% 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.

Summary of Insider Activity:

Insiders traded IBRX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 10,086,471 while 46,465 shares were sold.

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