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

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

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

ImmunityBio Stock Up 2.7%

ImmunityBio stock traded up $0.07 on Wednesday, hitting $2.67. The company's stock had a trading volume of 9,442,202 shares, compared to its average volume of 5,632,578. The firm has a market cap of $2.36 billion, a P/E ratio of -2.90 and a beta of 0.33. The company has a fifty day moving average price of $2.61 and a 200-day moving average price of $3.13. ImmunityBio has a one year low of $1.83 and a one year high of $7.63.

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

Institutional Investors Weigh In On ImmunityBio

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of ImmunityBio by 5.6% in the 1st quarter. Rhumbline Advisers now owns 219,360 shares of the company's stock worth $660,000 after purchasing an additional 11,573 shares during the last quarter. AQR Capital Management LLC lifted its position in ImmunityBio by 193.4% during the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company's stock worth $134,000 after buying an additional 29,297 shares in the last quarter. Freedom Investment Management Inc. acquired a new position in ImmunityBio during the 1st quarter worth about $41,000. Compound Planning Inc. acquired a new position in ImmunityBio during the 1st quarter worth about $30,000. Finally, Humankind Investments LLC acquired a new position in ImmunityBio during the 1st quarter worth about $34,000. Institutional investors own 8.58% of the company's stock.

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.