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

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

IBRX has been the topic of several other research reports. HC Wainwright reiterated a "buy" rating and issued a $8.00 price target on shares of ImmunityBio in a report on Monday, May 12th. Piper Sandler raised 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 research note on Tuesday, May 20th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.25.

ImmunityBio Price Performance

Shares of IBRX traded up $0.07 during mid-day trading on Wednesday, reaching $2.67. The company had a trading volume of 9,442,202 shares, compared to its average volume of 5,639,678. The company has a market capitalization of $2.36 billion, a P/E ratio of -2.90 and a beta of 0.33. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $7.63. The company's 50-day moving average is $2.61 and its 200-day moving average is $3.10.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $16.52 million during the quarter, compared to the consensus estimate of $17.50 million. As a group, equities analysts expect that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IBRX. Mutual Advisors LLC acquired a new position in ImmunityBio during the fourth quarter worth $41,000. China Universal Asset Management Co. Ltd. lifted its position in ImmunityBio by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 147,754 shares of the company's stock worth $378,000 after buying an additional 13,788 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of ImmunityBio during the 4th quarter worth about $26,000. New York State Common Retirement Fund increased its position in shares of ImmunityBio by 62.8% in the fourth quarter. New York State Common Retirement Fund now owns 32,418 shares of the company's stock valued at $83,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in 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 acquiring an additional 38,400 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors.

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.