ImmunityBio (NASDAQ:IBRX) Receives Buy Rating from D. Boral Capital

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

Several other research analysts also recently weighed in on the stock. BTIG Research began coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of ImmunityBio in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $12.19.

ImmunityBio Price Performance

IBRX traded down $0.01 during trading on Wednesday, reaching $2.61. 2,549,970 shares of the stock were exchanged, compared to its average volume of 5,524,389. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -2.83 and a beta of 0.51. ImmunityBio has a 1 year low of $2.28 and a 1 year high of $10.53. The business's 50 day moving average price is $2.87 and its two-hundred day moving average price is $3.47.

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

Institutional Investors Weigh In On ImmunityBio

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its position in ImmunityBio by 1.5% in the 4th quarter. Swiss National Bank now owns 274,000 shares of the company's stock worth $701,000 after purchasing an additional 4,000 shares during the last quarter. ProShare Advisors LLC increased its stake in ImmunityBio by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 73,773 shares of the company's stock valued at $189,000 after buying an additional 5,261 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of ImmunityBio by 20.4% during the 4th quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company's stock valued at $107,000 after acquiring an additional 7,067 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of ImmunityBio by 29.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 37,006 shares of the company's stock worth $95,000 after acquiring an additional 8,359 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of ImmunityBio by 40.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company's stock worth $74,000 after purchasing an additional 8,380 shares in the last quarter. 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.