ImmunityBio (NASDAQ:IBRX) Receives "Buy" Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

A number of other research analysts have also issued reports on IBRX. Piper Sandler upgraded ImmunityBio from a "neutral" rating to an "overweight" rating and increased their target price for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. D. Boral Capital restated a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.25.

ImmunityBio Trading Down 1.0%

ImmunityBio stock traded down $0.03 during mid-day trading on Wednesday, hitting $2.90. The company had a trading volume of 7,127,665 shares, compared to its average volume of 5,721,665. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -3.15 and a beta of 0.14. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $7.63. The company's fifty day moving average is $2.59 and its 200-day moving average is $3.07.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $16.52 million for the quarter, compared to analysts' expectations of $17.50 million. As a group, sell-side analysts expect that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Trading of ImmunityBio

Institutional investors have recently made changes to their positions in the company. Stephens Inc. AR purchased a new position in ImmunityBio in the 4th quarter valued at $26,000. Thrive Wealth Management LLC acquired a new stake in shares of ImmunityBio in the first quarter valued at about $30,000. Slow Capital Inc. acquired a new position in ImmunityBio during the first quarter worth about $30,000. Compound Planning Inc. purchased a new stake in ImmunityBio during the 1st quarter valued at about $30,000. Finally, Xponance Inc. acquired a new stake in ImmunityBio in the 1st quarter valued at about $33,000. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

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.