ImmunityBio's (IBRX) "Buy" Rating Reaffirmed at HC Wainwright

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 250.11% from the stock's current price.

Separately, D. Boral Capital reaffirmed a "buy" rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Monday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.19.

ImmunityBio Trading Up 10.4%

ImmunityBio stock traded up $0.22 during mid-day trading on Monday, reaching $2.29. The company had a trading volume of 6,857,685 shares, compared to its average volume of 5,376,953. ImmunityBio has a fifty-two week low of $1.83 and a fifty-two week high of $9.16. The company has a market cap of $2.02 billion, a P/E ratio of -2.47 and a beta of 0.33. The business has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $3.38.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). Research analysts forecast that ImmunityBio will post -0.92 EPS for the current year.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in ImmunityBio by 30.4% during the 4th quarter. Wells Fargo & Company MN now owns 138,605 shares of the company's stock worth $355,000 after acquiring an additional 32,334 shares during the period. Altium Capital Management LLC purchased a new position in ImmunityBio in the 4th quarter worth approximately $2,714,000. Vanguard Group Inc. grew its stake in ImmunityBio by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company's stock worth $44,360,000 after buying an additional 425,713 shares in the last quarter. Handelsbanken Fonder AB grew its stake in ImmunityBio by 71.2% in the 4th quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company's stock worth $236,000 after buying an additional 38,400 shares in the last quarter. Finally, Barclays PLC grew its stake in ImmunityBio by 9.8% in the 4th quarter. Barclays PLC now owns 396,484 shares of the company's stock worth $1,015,000 after buying an additional 35,448 shares in the last quarter. 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.

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