ImmunityBio, Inc. (NASDAQ:IBRX) Given Average Recommendation of "Buy" by Brokerages

Key Points

• ImmunityBio, Inc. has received a consensus recommendation of "Buy" from five analysts, with an average target price of $10.75.
• The company's latest quarterly earnings reported an EPS of ($0.10), meeting analyst expectations, with revenue of $26.43 million exceeding estimates of $21.95 million.
• Institutional investors have been active in ImmunityBio, with multiple firms recently modifying their holdings, including Vanguard Group increasing its stake by 17.4%.

Shares of ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) have received a consensus recommendation of "Buy" from the five analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.75.

Several equities analysts have commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of ImmunityBio in a research report on Saturday, September 27th. D. Boral Capital reaffirmed a "buy" rating and issued a $24.00 price target on shares of ImmunityBio in a report on Monday, September 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, September 10th.

ImmunityBio Stock Up 1.6%

IBRX traded up $0.04 during trading on Friday, reaching $2.54. The company's stock had a trading volume of 15,326,478 shares, compared to its average volume of 8,179,566. The firm has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $2.64. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -5.29 and a beta of 0.27. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $7.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.10). The firm had revenue of $26.43 million for the quarter, compared to analyst estimates of $21.95 million. As a group, equities analysts forecast that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBRX. Plancorp LLC acquired a new stake in ImmunityBio in the second quarter valued at approximately $717,000. Swiss National Bank increased its stake in ImmunityBio by 49.8% during the 1st quarter. Swiss National Bank now owns 410,400 shares of the company's stock worth $1,235,000 after purchasing an additional 136,400 shares in the last quarter. Nuveen LLC bought a new stake in ImmunityBio during the 1st quarter worth approximately $1,083,000. Vanguard Group Inc. boosted its position in ImmunityBio by 17.4% during the 1st quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company's stock worth $61,237,000 after acquiring an additional 3,016,325 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of ImmunityBio in the 1st quarter valued at approximately $60,000. 8.58% of the stock is currently owned by institutional investors.

About ImmunityBio

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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