ImmunityBio (NASDAQ:IBRX) Receives “Buy” Rating from D. Boral Capital

by · The Markets Daily

ImmunityBio (NASDAQ:IBRX – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock.

A number of other research analysts also recently weighed in on IBRX. HC Wainwright assumed coverage on shares of ImmunityBio in a report on Thursday, March 6th. They set a “buy” rating and a $8.00 price target on the stock. BTIG Research initiated coverage on ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.19.

Get Our Latest Stock Report on IBRX

ImmunityBio Price Performance

Shares of IBRX traded up $0.02 during mid-day trading on Thursday, hitting $2.89. The company’s stock had a trading volume of 309,474 shares, compared to its average volume of 6,092,129. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -3.15 and a beta of 0.82. The firm has a 50-day moving average price of $3.07 and a 200 day moving average price of $3.68.

ImmunityBio (NASDAQ:IBRX – Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $8.74 million. As a group, equities analysts anticipate that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

A number of hedge funds and other institutional investors have recently modified their holdings of IBRX. Vanguard Group Inc. boosted its holdings in ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after acquiring an additional 425,713 shares during the last quarter. State Street Corp grew its position in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares during the period. Woodline Partners LP raised its stake in shares of ImmunityBio by 682.7% during the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after buying an additional 3,002,622 shares during the last quarter. Tang Capital Management LLC bought a new position in ImmunityBio in the fourth quarter valued at approximately $7,204,000. Finally, Northern Trust Corp raised its position in shares of ImmunityBio by 7.9% during the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after acquiring an additional 97,348 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

ImmunityBio Company Profile

(Get Free Report)

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.

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