ImmunityBio (NASDAQ:IBRX) Given "Buy" Rating at 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 to clients and investors on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other research analysts also recently commented on the stock. HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday, June 4th. Piper Sandler upgraded shares of ImmunityBio from a "neutral" rating to an "overweight" rating and raised their target price for the company from $4.25 to $5.00 in a research note on Tuesday, May 20th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $12.25.

ImmunityBio Stock Performance

NASDAQ IBRX traded up $0.02 during trading hours on Tuesday, hitting $2.40. 7,909,561 shares of the company traded hands, compared to its average volume of 7,547,879. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -5.00 and a beta of 0.12. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $7.48. The business's 50-day moving average is $2.78 and its 200-day moving average is $2.83.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $26.43 million during the quarter, compared to analyst estimates of $21.95 million. Analysts predict that ImmunityBio will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in ImmunityBio by 30.4% in the 4th quarter. Wells Fargo & Company MN now owns 138,605 shares of the company's stock valued at $355,000 after buying an additional 32,334 shares during the last quarter. Altium Capital Management LLC acquired a new position in shares of ImmunityBio in the fourth quarter valued at approximately $2,714,000. Vanguard Group Inc. increased its stake in shares of ImmunityBio by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock worth $44,360,000 after purchasing an additional 425,713 shares during the period. Barclays PLC lifted its holdings in ImmunityBio by 9.8% during the 4th quarter. Barclays PLC now owns 396,484 shares of the company's stock worth $1,015,000 after purchasing an additional 35,448 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in ImmunityBio by 4.1% in the 4th quarter. Alliancebernstein L.P. now owns 214,030 shares of the company's stock valued at $548,000 after purchasing an additional 8,500 shares during the period. 8.58% of the stock is 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.