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

Key Points

• Analysts at D. Boral Capital have reaffirmed ImmunityBio's stock rating as "buy" with a target price of $30.00.
• The consensus rating for ImmunityBio among various brokerages is "Buy", with an average price target of $12.25.
• ImmunityBio's stock currently has a market capitalization of $2.13 billion, and its shares opened at $2.41 on the day the rating was announced.

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

Other equities research analysts also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, June 4th. Piper Sandler raised shares of ImmunityBio from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $4.25 to $5.00 in a research report on Tuesday, May 20th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $12.25.

ImmunityBio Price Performance

NASDAQ:IBRX traded up $0.04 during mid-day trading on Tuesday, reaching $2.44. 4,743,169 shares of the company's stock traded hands, compared to its average volume of 7,679,560. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $7.48. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -5.08 and a beta of 0.12. The company has a 50 day moving average price of $2.78 and a 200-day moving average price of $2.83.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.10). The business had revenue of $26.43 million during the quarter, compared to analysts' expectations of $21.95 million. As a group, analysts forecast that ImmunityBio will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IBRX. Slow Capital Inc. acquired a new position in ImmunityBio in the first quarter worth about $30,000. Financial Enhancement Group LLC purchased a new position in ImmunityBio in the 2nd quarter worth about $28,000. Compound Planning Inc. purchased a new stake in ImmunityBio in the 1st quarter worth about $30,000. Thrive Wealth Management LLC purchased a new position in ImmunityBio in the first quarter valued at about $30,000. Finally, Summit X LLC bought a new stake in shares of ImmunityBio during the 2nd quarter worth about $28,000. Institutional investors and hedge funds 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.