ImmunityBio's (IBRX) "Buy" Rating Reiterated at D. Boral Capital

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating restated by research analysts at D. Boral Capital in a research note issued on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock.

A number of other equities analysts have also issued reports on IBRX. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a research report on Monday, May 12th. Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and upped their price target for the company from $4.25 to $5.00 in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $12.25.

ImmunityBio Stock Performance

Shares of IBRX stock traded up $0.22 on Tuesday, hitting $2.93. The stock had a trading volume of 11,280,039 shares, compared to its average volume of 5,716,026. The stock's 50 day moving average is $2.59 and its 200-day moving average is $3.07. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -3.18 and a beta of 0.33. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $7.63.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). The firm had revenue of $16.52 million during the quarter, compared to analyst estimates of $17.50 million. Equities analysts expect that ImmunityBio will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IBRX. Stephens Inc. AR acquired a new stake in shares of ImmunityBio during the 4th quarter valued at approximately $26,000. New York State Common Retirement Fund increased its stake in ImmunityBio by 62.8% during the fourth quarter. New York State Common Retirement Fund now owns 32,418 shares of the company's stock valued at $83,000 after purchasing an additional 12,500 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of ImmunityBio by 71.2% during the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock worth $236,000 after purchasing an additional 38,400 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of ImmunityBio in the 4th quarter worth about $41,000. Finally, Maia Wealth LLC bought a new position in shares of ImmunityBio in the 4th quarter worth about $37,000. 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.