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

D. Boral Capital reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX - Free Report) in a report published on Tuesday,Benzinga reports. D. Boral Capital currently has a $30.00 price target on the stock.

A number of other research firms have also commented on IBRX. Piper Sandler upgraded shares of ImmunityBio from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $4.25 to $5.00 in a research note on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and set a $8.00 price objective on shares of ImmunityBio in a research note on Wednesday, June 4th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ImmunityBio has an average rating of "Buy" and a consensus price target of $12.25.

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX traded up $0.08 during trading hours on Tuesday, hitting $2.79. The stock had a trading volume of 7,877,974 shares, compared to its average volume of 6,234,717. The stock's fifty day simple moving average is $2.70 and its 200 day simple moving average is $2.83. ImmunityBio has a 1-year low of $1.83 and a 1-year high of $7.48. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -4.81 and a beta of 0.08.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). The company had revenue of $16.52 million for the quarter, compared to analyst estimates of $17.50 million. As a group, research analysts anticipate that ImmunityBio will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Thrive Wealth Management LLC grew its position in ImmunityBio by 49.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company's stock worth $40,000 after purchasing an additional 4,964 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of ImmunityBio by 5.6% in the 1st quarter. Rhumbline Advisers now owns 219,360 shares of the company's stock valued at $660,000 after purchasing an additional 11,573 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of ImmunityBio by 193.4% in the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company's stock valued at $134,000 after purchasing an additional 29,297 shares during the last quarter. Freedom Investment Management Inc. acquired a new position in ImmunityBio during the 1st quarter worth $41,000. Finally, Compound Planning Inc. acquired a new position in ImmunityBio during the 1st quarter worth $30,000. Institutional investors and hedge funds own 8.58% of the company's stock.

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.