D. Boral Capital Reiterates "Buy" Rating for ImmunityBio (NASDAQ:IBRX)

Key Points

• D. Boral Capital reiterated a Buy rating on ImmunityBio (IBRX) with a $24.00 price target, implying roughly a 303% upside from the current price.
• The analyst consensus is a "Moderate Buy"—five firms rate IBRX Buy and one Sell—with an average price target of $11.80, well below D. Boral's projection.
• IBRX trades around $5.95 (52‑week range $1.83–$8.28) with a $5.86B market cap; insiders sold ~226,967 shares last quarter yet still own ~69.48% of the company, while institutional ownership is about 8.58%.

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $24.00 price objective on the stock. D. Boral Capital's price objective indicates a potential upside of 303.36% from the stock's current price.

A number of other research firms also recently weighed in on IBRX. HC Wainwright raised their target price on shares of ImmunityBio from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Piper Sandler raised their price objective on ImmunityBio from $5.00 to $7.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. BTIG Research lifted their target price on ImmunityBio from $6.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Jefferies Financial Group increased their price target on ImmunityBio from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of ImmunityBio in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.80.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $5.95 on Tuesday. ImmunityBio has a 52 week low of $1.83 and a 52 week high of $8.28. The stock's 50 day moving average price is $4.02 and its two-hundred day moving average price is $2.96. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -14.51 and a beta of 0.14.

Insider Buying and Selling at ImmunityBio

In other news, Director Barry J. Simon sold 151,967 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director directly owned 3,091,604 shares of the company's stock, valued at $22,259,548.80. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 226,967 shares of company stock worth $1,531,912. Corporate insiders own 69.48% of the company's stock.

Institutional Trading of ImmunityBio

Several hedge funds have recently added to or reduced their stakes in IBRX. Slow Capital Inc. acquired a new position in ImmunityBio in the 3rd quarter valued at $25,000. Envision Financial Planning LLC bought a new position in ImmunityBio during the second quarter worth about $28,000. Summit X LLC acquired a new stake in ImmunityBio in the 2nd quarter worth about $28,000. Diversify Advisory Services LLC bought a new stake in ImmunityBio in the 2nd quarter valued at about $27,000. Finally, Truist Financial Corp acquired a new position in shares of ImmunityBio during the 3rd quarter worth approximately $27,000. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.

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