ImmunityBio (NASDAQ:IBRX) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX - Free Report) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

Several other brokerages also recently issued reports on IBRX. D. Boral Capital reiterated a "buy" rating and set a $30.00 price objective on shares of ImmunityBio in a research report on Wednesday, April 23rd. BTIG Research began coverage on ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 price target for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ImmunityBio has an average rating of "Buy" and an average target price of $12.19.

ImmunityBio Stock Up 2.0 %

Shares of NASDAQ:IBRX traded up $0.05 during trading on Monday, hitting $2.54. 3,784,427 shares of the company traded hands, compared to its average volume of 5,173,202. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -2.76 and a beta of 0.51. The business's fifty day moving average is $2.78 and its 200-day moving average is $3.43. ImmunityBio has a one year low of $2.28 and a one year high of $10.01.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. On average, analysts forecast that ImmunityBio will post -0.92 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Slow Capital Inc. acquired a new stake in ImmunityBio during the first quarter valued at approximately $30,000. Thrive Wealth Management LLC acquired a new stake in shares of ImmunityBio during the 1st quarter valued at $30,000. Stephens Inc. AR acquired a new stake in shares of ImmunityBio during the 4th quarter valued at $26,000. Xponance Inc. acquired a new position in shares of ImmunityBio in the 1st quarter worth $33,000. Finally, Cibc World Markets Corp acquired a new stake in shares of ImmunityBio during the fourth quarter worth $35,000. 8.58% of the stock is owned by institutional investors and hedge funds.

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.